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SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 128E Cancelling registration

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 128E

Cancelling registration

  (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.

  (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.

  (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.

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

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

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