Tax Agent Services Act 2009

PART 4 - TERMINATION OF REGISTRATION  

Division 40 - Termination of registration  

Subdivision 40-A - Grounds for terminating registration  

SECTION 40-10   Termination of registration - partnerships  

40-10(1)  


If you are a * registered tax agent, BAS agent or tax (financial) adviser and a partnership, the Board may terminate your registration if:


(a) you cease to meet one of the * tax practitioner registration requirements; or


(b) you breach a condition of your registration.

Note:

The Board may also terminate your registration for breach of the Code of Professional Conduct: see Subdivision 30-B .

40-10(2)  
The Board must terminate your registration if you surrender your registration by notice in writing to the Board.

40-10(2A)  


Despite subsection (2), the Board need not terminate your registration if:


(a) you surrender your registration by notice in writing to the Board; and


(b) either:


(i) the Board considers that, due to a current investigation or the outcome of an investigation, it would be inappropriate to terminate your registration; or

(ii) the Board, within 30 days after receiving your surrender notice, decides to investigate you and considers that it would be inappropriate to terminate your registration.

40-10(3)  
If an event affecting your continued registration, as described in section 20-45 , occurs in respect of a partner in your partnership, then the Board may, by notice in writing, require you to remove the partner from your partnership within the period specified in the notice.

Note:

A failure to comply with a notice given under this subsection is a breach of subsection 30-10(14) .

40-10(4)  
If an event affecting your continued registration, as described in section 20-45 , occurs in respect of a director of a company that is a partner in your partnership, then the Board may, by notice in writing, require:


(a) you to remove the partner from your partnership; or


(b) the company to remove the director;

within the period specified in the notice.

Note:

A failure to comply with a notice given under this subsection is a breach of subsection 30-10(14) .

40-10(5)  
In determining the period, the Board must have regard to:


(a) for the purpose of subsection (3) and paragraph (4)(a) - the requirements of any * Australian law in relation to the removal of partners from partnerships; and


(b) for the purpose of paragraph (4)(b) - any requirement of the Corporations Act 2001 in relation to the removal of directors.




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