Corporations Act 2001

CHAPTER 9 - MISCELLANEOUS  

PART 9.2A - AUTHORISED AUDIT COMPANIES  

Division 2 - Cancellation or suspension of registration  

SECTION 1299K   TIME WHEN ASIC'S DECISION COMES INTO EFFECT  

1299K(1)   [ Time of effect of cancellation or suspension]  

A decision by ASIC to cancel or suspend a company's registration as an authorised audit company comes into effect at the end of the day on which the company is given notice of the decision under paragraph 1299J(1) (a). This subsection has effect subject to subsection (2) and to sections 41 and 44A of the Administrative Appeals Tribunal Act 1975 .

1299K(2)   [ Determination of time for Tribunal review]  

ASIC may, in order to enable an application to be made to the Tribunal for review of the decision to cancel or suspend the registration, determine that the decision to cancel or suspend the company's registration as an authorised audit company is not to come into effect until:

(a) a specified time; or

(b) the happening of a specified event.

1299K(3)   [ Power to vary or revoke determination]  

ASIC may at any time vary or revoke a determination made under subsection (2), including such a determination that has been varied at least once before.

1299K(4)   [ Effect of determination]  

A determination in force under subsection (2) has effect accordingly.