Document ID: chunk:federal_register_of_legislation:C2004A01334:clause:2_323eh
Version: federal_register_of_legislation:C2004A01334
Segment Type: clause
Provision Reference: sch 2 cl 323EH
Character Range: 281686–282838

323EH  Lodging entity to apply to ASIC for consent to proposed referral

 (1) The lodging entity must apply to ASIC in writing for ASIC's consent to the referral.

 (2) The application must:
 (a) identify the disputed financial reporting requirements; and
 (b) set out, in relation to each of the disputed financial reporting requirements, the reasons for the lodging entity's opinion that the financial report does comply with that requirement.

 (3) If ASIC consents to the referral, ASIC must:
 (a) prepare a statement that sets out, in relation to each of the disputed financial reporting requirements, the reasons for ASIC's opinion that the financial report does not comply with that requirement; and
 (b) give the statement to the lodging entity.

 (4) Evidence or information that the lodging entity includes in the application under paragraph (2)(b) is not admissible in evidence against:
 (a) the lodging entity; or
 (b) a director of the lodging entity; or
 (c) any other representative of the lodging entity;
in any proceedings (other than proceedings for an offence based on the evidence or information given being false or misleading).