National Consumer Credit Protection Act. Australia

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СКАЧАТЬ an extension is granted under subsection (3), the trust account statement and trust account audit report must be lodged with ASIC before the end of the extended period.

      (3) ASIC may, on application made:

      (a) by the credit service licensee and the auditor that is to prepare the trust account audit report; and

      (b) before the end of the period that would otherwise apply;

      approve an extension of the period for lodging the trust account statement and trust account audit report. The extension may be of the period originally applicable or the period applicable under a previous extension.

      (4) An approval may be given subject to any conditions imposed by ASIC.

      (5) If an approval is given subject to conditions, the licensee must comply with those conditions.

      Division 4—Matters relating to audit reports

      102 Auditor’s right of access to records, information etc.

      Auditor is entitled to access and assistance etc. from licensee

      1) An auditor (the auditor) who prepares one of the following audit reports (the audit report):

      a) an audit report required under subsection 49(3) in relation to a licensee;

      b) a trust account audit report required under subsection 100(2) in relation to a licensee;

      has a right of access at all reasonable times to the financial records or other credit books of the licensee for purposes relating to the audit report.

      2) The auditor is entitled to require:

      a) from the licensee; or

      b) if the licensee is a body corporate — from any director, secretary or senior manager of the licensee;

      any assistance and explanations that the auditor desires for purposes relating to the audit report.

      Requirement to give auditor access and assistance etc.

      3) The licensee, or a director, secretary or senior manager of the licensee if it is a body corporate, must not:

      a) refuse or fail to allow the auditor access, in accordance with subsection (1), to financial records or other credit books of the licensee; or

      b) refuse or fail to give assistance, or an explanation, to the auditor as and when required under subsection (2); or

      c) otherwise hinder, obstruct or delay the auditor in the performance or exercise of the auditor’s duties or powers.

      Civil penalty: 2,000 penalty units.

      Offence

      4) A person commits an offence if:

      a) the person is subject to a requirement under subsection (3); and

      b) the person engages in conduct; and

      c) the person’s conduct contravenes the requirement.

      Criminal penalty: 100 penalty units, or 2 years imprisonment, or both.

      103 Auditor’s fees and expenses

      1) The reasonable fees and expenses of the auditor for preparing the audit report are payable by the licensee.

      2) The auditor may recover those fees by action against the licensee.

      104 Auditor to report on certain matters

      Requirement for auditor to disclose maters

      1) If the auditor, in the performance of duties relating to the audit report, becomes aware of a matter referred to in subsection (2), the auditor must, within 7 days after becoming aware of the matter:

      a) lodge a written report on the matter with ASIC; and

      b) give a copy of the report to the licensee.

      Civil penalty: 2,000 penalty units.

      Matters that must be disclosed

      2) A report must be given in relation to any matter that, in the opinion of the auditor:

      a) has adversely affected, is adversely affecting or may adversely affect the ability of the licensee to meet the licensee’s obligations as a licensee; or

      b) constitutes or may constitute a contravention of:

      i) Division 2 or 3 (or regulations made under those Divisions); or(ii) a condition of the licensee’s licence; or

      c) constitutes an attempt to unduly influence, coerce, manipulate or mislead the auditor in the preparation of the audit report.

      Offence

      3) The auditor commits an offence if:

      a) the auditor is subject to a requirement under subsection (1); and

      b) the auditor engages in conduct; and

      c) the auditor’s conduct contravenes the requirement.

      Criminal penalty: 50 penalty units, or 1 year imprisonment, or both.

      105 Qualified privilege for auditor etc.

      Qualified privilege for auditor

      1) The auditor has qualified privilege in relation to:

      a) a statement that the auditor makes, orally or in writing, in the course of its duties relating to the audit report; or

      b) the lodging of a report with ASIC under subsection 104(1); or

      c) the giving of a report to the licensee under subsection 104(1).

      Note: If the auditor is a company, the company has qualified privilege under this subsection in relation to statements made, and reports lodged or sent, by natural persons on behalf of the company if those statements and notices can be properly attributed to the company.

      Qualified privilege for registered company auditor acting on behalf of company

      2) If the auditor is a company registered under the Corporations Act 2001, a registered company auditor acting on behalf of the company has qualified privilege in relation to:

      (a) a statement that the registered company auditor makes (orally or in writing) in the course of the performance, on behalf of the company, of the company’s duties relating to the audit report; or

      (b) the lodging by the registered company auditor, on behalf of the company, of a report with ASIC under subsection 104(1); or

      (c) the giving by the registered company auditor, on behalf of the company, of СКАЧАТЬ