Document ID: chunk:federal_register_of_legislation:C2004A02473:body:0:p9
Version: federal_register_of_legislation:C2004A02473
Segment Type: other
Provision Reference: 
Character Range: 19806–22333

the Territory or under a corresponding law, or a previous corresponding law, of a State or of another Territory;
    (ii) the body corporate is not a body corporate in respect of the property, or part of the property, of which a receiver, or a receiver and manager, has been appointed under the Companies Act 1981 or a previous corresponding law of the Territory or under a corresponding law, or a previous corresponding law, of a State or of another Territory;".

Dealings as principal
32. Section 66 of the Principal Act is amended by omitting from sub-section (6) "Division 5 of Part IV of the Companies Ordinance 1962" and substituting "Division 6 of Part IV of the Companies Act 1981".
33. Section 75 of the Principal Act is repealed and the following section is substituted:

Appointment of auditor by dealer
"75. (1) Within one month after a person becomes the holder of a dealers licence he shall appoint a person or persons, a firm or firms, or a person or persons and a firm or firms, as auditor or auditors to audit his accounts.
"(2) Subject to this section, a person shall not—
    (a) consent to be appointed as auditor of a dealer;
    (b) act as auditor of a dealer; or
    (c) prepare a report required by this Act to be prepared by an auditor of a dealer,
if—
    (d) the person is not a registered company auditor;
    (e) the person, or a body corporate in which the person is a substantial shareholder for the purposes of Division 4 of Part IV of the Companies Act 1981 or the provisions of the law of a participating State or a participating Territory that correspond with that Division, is indebted in an amount exceeding $5,000 to the dealer or, if the dealer is a body corporate, to a related body corporate; or
    (f) the person is—
       (i) in the case of a dealer who is a natural person—a partner or employee of the dealer; or
       (ii) in the case of a dealer that is a body corporate—
           (a) an officer of the body corporate;
           (b) a partner, employer or employee of an officer of the body corporate; or
           (c) a partner or employee of an employee of an officer of the body corporate.

"(3) Subject to this section, a firm shall not—
    (a) consent to be appointed as auditor of a dealer;
    (b) act as auditor of a dealer; or
    (c) prepare a report required by this Act to be prepared by an auditor of a dealer,
unless—
    (d) at least one member of the firm is a registered company auditor who is ordinarily resident in a State or Territory;
    (e) where the