Federal Register of Legislation - Australian Government

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SLI 2005 No. 288 Regulations as made
To prescribe qualifications of auditors of native title representative bodies.
Administered by: Prime Minister and Cabinet
Exempt from sunsetting by the Legislation (Exemptions and Other Matters) Regulation 2015 s12 item 46
Registered 08 Dec 2005
Tabling HistoryDate
Tabled HR07-Feb-2006
Tabled Senate07-Feb-2006

Native Title (Representative Bodies — Audit of Financial Statements) Regulations 20051

Select Legislative Instrument 2005 No. 288

I, PHILIP MICHAEL JEFFERY, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Native Title Act 1993.

Dated 1 December 2005

P. M. JEFFERY

Governor-General

By His Excellency’s Command

AMANDA VANSTONE


  

  

1              Name of Regulations

                These Regulations are the Native Title (Representative Bodies — Audit of Financial Statements) Regulations 2005.

2              Commencement

                These Regulations are taken to have commenced on 1 July 2005.

3              Definitions

                In these Regulations:

Act means the Native Title Act 1993.

executive officer:

                (a)    in relation to an representative body:

                          (i)    means an executive officer within the meaning of section 201A of the Act; and

                         (ii)    without limiting subparagraph (i), includes the Chief Financial Officer of the representative body; and

               (b)    in relation to a related body corporate — means:

                          (i)    a director of the body corporate; or

                         (ii)    any other person who is concerned in, or takes part in, the management of the body corporate at a senior level.

related body corporate has the same meaning as in the Corporations Act 2001.

4              Qualifications of auditor

                For subsection 203DC (5) of the Act, the following qualifications are prescribed for a person for appointment to audit the financial statements of a representative body:

                (a)    for an individual — the person must be a registered company auditor within the meaning of the Corporations Act 2001;

               (b)    for a body corporate — the person must be an authorised audit company within the meaning of the Corporations Act 2001;

                (c)    the person must not be a member, employee, or executive officer of:

                          (i)    the representative body; or

                         (ii)    a related body corporate.


Note

1.       All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See www.frli.gov.au.