SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 16 - ACTUARIES AND AUDITORS OF SUPERANNUATION ENTITIES  

Division 1A - Approved SMSF auditors  

Subdivision A - Registration of approved SMSF auditors  

SECTION 128E   CANCELLING REGISTRATION  

128E(1)  
The Regulator may cancel a person ' s registration as an approved SMSF auditor if the person requests the Regulator to do so. The request must be in writing.

128E(2)  
The Regulator may cancel a person ' s registration as an approved SMSF auditor if the Regulator is satisfied that the person:


(a) has failed to comply with a condition imposed under section 128D on the person ' s registration; or


(b) has not performed any significant audit work during a continuous period of 5 years, and, as a result, has ceased to have the practical experience necessary for carrying out audits of self managed superannuation funds under this Act; or


(c) has failed to comply with the person ' s obligation to give the Regulator a statement under section 128G ; or


(d) has ceased to be an Australian resident.

128E(3)  
The Regulator must, not later than 14 days after deciding to cancel the registration, give the person a written notice setting out the decision and the reasons for it.

128E(4)  
The decision takes effect at the end of the day the notice is given to the person.

128E(5)  
A failure to comply with subsection (3) does not affect the validity of the decision.




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