Document ID: chunk:federal_register_of_legislation:C2025C00185:section:342ab
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 342AB
Character Range: 1356011–1356789

342AB  Exemption orders—class orders for non‑auditor members etc.
 (1) ASIC may make an order in writing in respect of a specified class of audit firms or audit companies, relieving any of the following from all or specified requirements of Division 3 of Part 2M.4 (auditor independence):
 (a) members of firms who are not registered company auditors;
 (b) persons who have ceased to be:
 (i) members of audit firms; or
 (ii) directors of audit companies; or
 (iii) professional employees of audit companies.
Note: For the criteria for making orders under this section, see section 342AC.
 (2) The order may:
 (a) be expressed to be subject to conditions; and
 (b) be indefinite or limited to a specified period.
 (3) An order under subsection (1) is a legislative instrument.