Document ID: chunk:federal_register_of_legislation:C2004A01334:clause:1_324ck
Version: federal_register_of_legislation:C2004A01334
Segment Type: clause
Provision Reference: sch 1 cl 324CK
Character Range: 162338–163374

324CK  Multiple former audit firm partners or audit company directors

  A person contravenes this section if:
 (a) an audit firm, or audit company, is an auditor of an audited body for a financial year; and
 (b) the person has at any time been a member of the audit firm or a director of the audit company; and
 (c) the person becomes an officer of the audited body; and
 (d) at the time when paragraph (c) is satisfied another person who is or who also has at any time been a member of the audit firm, or a director of the audit company, at a time when the audit firm, or audit company, undertook an audit of the audited body is also an officer of the audited body; and
 (e) the audited body is not a small proprietary company for the most recently ended financial year.
If the audited body is a listed entity (other than a registered scheme), apply paragraphs (c) and (d) as if references in those paragraphs to the audited body included references to a related body corporate of the audited body.

Subdivision C—Common provisions