Corporations Act. Australia
to a specified period.
(3) Notice of the making, revocation or suspension of the order must be published in the Gazette.
342 Exemption orders — criteria for orders for companies, registered schemes and disclosing entities
(1) To make an order under section 340 or 341, ASIC must be satisfied that complying with the relevant requirements of Parts 2M.2, 2M.3 and 2M.4 would:
(a) make the financial report or other reports misleading; or
(b) be inappropriate in the circumstances; or
(c) impose unreasonable burdens.
(2) In deciding for the purposes of subsection (1) whether the audit requirements for a proprietary company, or a class of proprietary companies, would impose an unreasonable burden on the company or companies, ASIC is to have regard to:
(a) the expected costs of complying with the audit requirements; and
(b) the expected benefits of having the company or companies comply with the audit requirements; and
(c) any practical difficulties that the company or companies face in complying effectively with the audit requirements (in particular, any difficulties that arise because a financial year is the first one for which the audit requirements apply or because the company or companies are likely to move frequently between the small and large proprietary company categories from one financial year to another); and
(d) any unusual aspects of the operation of the company or companies during the financial year concerned; and
(e) any other matters that ASIC considers relevant.
(3) In assessing expected benefits under subsection (2), ASIC is to take account of:
(a) the number of creditors and potential creditors; and
(b) the position of creditors and potential creditors (in particular, their ability to independently obtain financial information about the company or companies); and
(c) the nature and extent of the liabilities of the company or companies.
342AA Exemption orders — non‑auditor members and former members of audit firms; former employees of audit companies
(1) On an application made in accordance with subsection (3) by any of the following, ASIC may make an order in writing relieving the applicant from all or specified requirements of Division 3 of Part 2M.4 (auditor independence):
(a) a member of the firm who is not a registered company auditor;
(b) a person who has ceased to be:
(i) a member of an audit firm; or
(ii) a director of an audit company; or
(iii) a professional employee of an audit company.
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) The application must be:
(a) in writing and signed by the applicant; and
(b) lodged with ASIC.
(4) ASIC must give the applicant written notice of the making, revocation or suspension of the order.
(5) An order under subsection (1) is not a legislative instrument.
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;
Конец ознакомительного фрагмента.
Текст предоставлен ООО «ЛитРес».
Прочитайте эту книгу целиком, купив полную легальную версию на ЛитРес.
Безопасно оплатить книгу можно банковской картой Visa, MasterCard, Maestro, со счета мобильного телефона, с платежного терминала, в салоне МТС или Связной, через PayPal, WebMoney, Яндекс.Деньги, QIWI Кошелек, бонусными картами или другим удобным Вам способом.