Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:15:p19
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 15 (pt 19/73)
Character Range: 1735796–1738464

principal at the end of the transition period in relation to the person in the capacity of a regulated principal of that kind; and
 (b) the auditor of the regulated principal would be eligible to continue to act as auditor of the financial services licensee; and
 (c) ASIC had previously consented to the removal or resignation of the auditor under section 1216 of the old Corporations Act on a specified date after the regulated principal became a financial services licensee in relation to the regulated activities of a regulated principal of that kind;
the auditor of the regulated principal is taken to have been appointed under section 990B of the Act when the regulated principal became a financial services licensee in relation to the regulated activities of a regulated principal of that kind, and ASIC is taken to have specified the date mentioned in paragraph (c) under section 990H of the Act.
 (5) If there was a vacancy in the office of the auditor of a regulated principal mentioned in item 3 of the table in section 1430 of the Act when the regulated principal became a financial services licensee in relation to the regulated activities of a regulated principal of that kind, the licensee must appoint an auditor within 14 days after the day on which the vacancy occurred in accordance with subsections 990B(4) and (5) of the Act.
 (6) Subregulation (5) does not apply to a financial services licensee in relation to which an auditor has already been appointed under section 990B of the Act.

10.2.67  Auditor's report in certain matters: financial services licensee who formerly held a dealer's licence
 (1) For section 1444 of the Act, this regulation applies in relation to a financial services licensee:
 (a) who is a regulated principal mentioned in item 1 of the table in section 1430 of the Act; and
 (b) whose financial services licence covers regulated activities for a regulated principal of that kind.
 (2) Section 990K of the Act applies in relation to an auditor of a financial services licensee mentioned in subregulation (1) as if subsection 990K(2) required the auditor to give a report on any matter that, in the opinion of the auditor:
 (a) adversely affected the ability of the licensee to meet its obligations as a securities dealer before the time that it became a financial services licensee in relation to the regulated activities mentioned in item 1 of the table in section 1430 of the Act; or
 (b) constitutes, or may constitute, a contravention of the condition of the dealers licence held by the licensee before the time that it became a financial services licensee in relation to the regulated activities mentioned in item 1