Document ID: chunk:federal_register_of_legislation:C2024C00492:section:6:p120
Version: federal_register_of_legislation:C2024C00492
Segment Type: section
Provision Reference: s 6 (pt 120/175)
Character Range: 475462–478113

to correct the contravention as soon as possible after the member becomes aware of those circumstances.
Note: A defendant bears an evidential burden in relation to the matters in subsection (4) (see subsection 13.3(3) of the Criminal Code).

339‑70  Registration requirements for appointment of company as auditor
 (1) A company contravenes this subsection if:
 (a) one of the following imposes a requirement in relation to the audit of a financial report of an Aboriginal and Torres Strait Islander corporation:
 (i) an applied provision of the Corporations Act;
 (ii) regulations made for the purposes of section 333‑15;
 (iii) a determination by the Registrar under section 336‑1 or 336‑5; and
 (b) the requirement is that, if the auditor is a company, the company must be an authorised audit company; and
 (c) the company acts as auditor in relation to the report or a part of it; and
 (d) the company is not an authorised audit company.
Penalty: 25 penalty units or imprisonment for 6 months, or both.
 (2) A person (the defendant) contravenes this subsection if:
 (a) one of the following imposes a requirement in relation to the audit of a financial report of an Aboriginal and Torres Strait Islander corporation:
 (i) an applied provision of the Corporations Act;
 (ii) regulations made for the purposes of section 333‑15;
 (iii) a determination by the Registrar under section 336‑1 or 336‑5; and
 (b) the requirement is that, if the auditor is a company, the company must be an authorised audit company; and
 (c) at a particular time, a company acts as auditor in relation to the report or a part of it; and
 (d) at that time, the company is not an authorised audit company; and
 (e) the defendant is a director of the company at that time; and
 (f) the defendant is aware of the circumstances referred to in paragraphs (c) and (d) at that time.
Penalty: 25 penalty units or imprisonment for 6 months, or both.
 (3) A person (the defendant) contravenes this subsection if:
 (a) one of the following imposes a requirement in relation to the audit of a financial report of an Aboriginal and Torres Strait Islander corporation:
 (i) an applied provision of the Corporations Act;
 (ii) regulations made for the purposes of section 333‑15;
 (iii) a determination by the Registrar under section 336‑1 or 336‑5; and
 (b) the requirement is that, if the auditor is a company, the company must be an authorised audit company; and
 (c) at a particular time, a company acts as auditor in relation to the report or that part of it; and
 (d) at that time, the company is not an authorised audit company; and
 (e) the defendant is a director of the company