Document ID: chunk:federal_register_of_legislation:C2004A02825:body:0:p15
Version: federal_register_of_legislation:C2004A02825
Segment Type: other
Provision Reference: 
Character Range: 37307–40051

227 prohibition, a section 227a order or a section 562 order.".

Register of Auditors
26. Section 23 of the Principal Act is amended by inserting in paragraph (1) (e) "or 30d (7) (a), (b) or (c)" after "(c)".

Registers of Liquidators and Official Liquidators
27. Section 24 of the Principal Act is amended—
     (a) by inserting in sub-paragraph (1) (a) (v) "or 30d (7) (a), (b) or (c)" after "(c)"; and
     (b) by inserting in sub-paragraph (1) (b) (vi) "or 30d (7) (a), (b) or (c)" after "(c)".

Notification of certain matters
28. Section 25 of the Principal Act is amended by omitting sub-section (4) and substituting the following sub-section:
"(4) A person who is registered as an auditor, as a liquidator or as a liquidator of a specified corporation shall, not later than 3 days after he becomes subject to a section 227 prohibition, a section 227a order or a section 562 order, lodge with the Commission, in the prescribed form, particulars of the circumstances by reason of which he became subject to the section 227 prohibition or particulars in writing of the section 227a order or section 562 order, as the case may be.".

Repeal of section 27
29. Section 27 of the Principal Act is repealed.

Certain persons not to apply for registration as auditor or liquidator
30. Section 28 of the Principal Act is amended by omitting sub-section (3) and substituting the following sub-section:
"(3) A person whose registration as an auditor or liquidator has been cancelled or suspended—
     (a) under, a provision of a law of a participating State or participating Territory that corresponded with a provision of section 27 (other than sub-section 27 (1)); or
     (b) under a provision of a law of a participating State or participating Territory that corresponds with section 30d,
is not entitled, without the leave of the Supreme Court of that State or Territory, to apply to the Commission for registration as an auditor or liquidator, as the case may be, under this Act.".

31. After section 30 of the Principal Act the following Subdivision is inserted in Division 2 of Part II:

"Subdivision B—Cancellation or Suspension of Registration

Interpretation
"30a. In this Subdivision, unless the contrary intention appears—
'Board' means the Companies Auditors and Liquidators Disciplinary Board;

     'Chairman' means the Chairman of the Board and includes a person acting or purporting to act as Chairman of the Board pursuant to section 7 of the Companies Auditors and Liquidators Disciplinary Board Ordinance 1982;
     'decision', in relation to the Board, means a decision of the Board under this Subdivision and includes a refusal to exercise a power under section 30d;
     'hearing' means a hearing held by the Board for the