Document ID: chunk:federal_register_of_legislation:C2004A01334:clause:1_227a
Version: federal_register_of_legislation:C2004A01334
Segment Type: clause
Provision Reference: sch 1 cl 227A
Character Range: 26550–27461

227A  The Auditing and Assurance Standards Board

 (1) The Auditing and Assurance Standards Board is established.

 (2) The Auditing and Assurance Standards Board:
 (a) is a body corporate with perpetual succession; and
 (b) must have a common seal; and
 (c) may acquire, hold and dispose of real and personal property; and
 (d) may sue and be sued in its corporate name.

Note: The Commonwealth Authorities and Companies Act 1997 applies to the Auditing and Assurance Standards Board. This Act makes provision for reporting obligations (annual report, interim reports and estimates), accounting records, audit, banking, investment of funds and duties of officers.

 (3) All courts, judges and persons acting judicially must:
 (a) take judicial notice of the imprint of the common seal of the Auditing and Assurance Standards Board appearing on a document; and
 (b) presume that the document was duly sealed.