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This is a Bill, not an Act. For current law, see the Acts databases.
Queensland
Audit Legislation Amendment
Bill 2005
Queensland
Audit Legislation Amendment Bill 2005
Contents
Page
Part 1 Preliminary
1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Part 2 Amendment of Associations Incorporation Act 1981
2 Act amended in pt 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
3 Amendment of s 59 (Audit and statement) . . . . . . . . . . . . . . . . . . 6
4 Insertion of new pt 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Part 16 Transitional provisions
145 Transitional provision for Audit Legislation
Amendment Act 2005. . . . . . . . . . . . . . . . . . . . . . . . . 7
Part 3 Amendment of Building Units and Group Titles Act 1980
5 Act amended in pt 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
6 Amendment of s 7 (Interpretation) . . . . . . . . . . . . . . . . . . . . . . . . 8
7 Amendment of s 29B (Audit of accounts of body corporate) . . . . 8
8 Insertion of new pt 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
Part 7 Additional transitional provisions
135 Transitional provision for Audit Legislation
Amendment Act 2005. . . . . . . . . . . . . . . . . . . . . . . . . 8
Part 4 Amendment of Charitable and Non-Profit Gaming Act 1999
9 Act amended in pt 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
10 Amendment of s 85 (Definition for div 6) . . . . . . . . . . . . . . . . . . . 9
Part 5 Amendment of Charitable Funds Act 1958
11 Act amended in pt 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
12 Amendment of s 24 (Audit). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Part 6 Amendment of Collections Act 1966
13 Act amended in pt 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
14 Amendment of s 31 (Financial statements and audit) . . . . . . . . . 10
15 Insertion of new pt 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Part 9 Transitional provisions
2
Audit Legislation Amendment Bill 2005
48 Transitional provision for Audit Legislation
Amendment Act 2005. . . . . . . . . . . . . . . . . . . . . . . . . 11
Part 7 Amendment of Currumbin Bird Sanctuary Act 1976
16 Act amended in pt 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
17 Amendment of s 11 (Accounts to be kept) . . . . . . . . . . . . . . . . . . 12
Part 8 Amendment of Electricity Act 1994
18 Act amended in pt 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
19 Amendment of s 20N (Content requirements for audited
statement) .................................... 13
Part 9 Amendment of Funeral Benefit Business Act 1982
20 Act amended in pt 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
21 Amendment of s 5 (Definitions) . . . . . . . . . . . . . . . . . . . . . . . . . . 13
Part 10 Amendment of Gaming Machine Act 1991
22 Act amended in pt 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
23 Amendment of schedule (Dictionary) . . . . . . . . . . . . . . . . . . . . . . 14
Part 11 Amendment of Gas Supply Act 2003
24 Act amended in pt 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
25 Amendment of s 227 (Content requirements for audited
statement) .................................... 15
Part 12 Amendment of Land Act 1994
26 Act amended in pt 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
27 Amendment of s 47 (Trustee's accounting functions). . . . . . . . . . 15
28 Amendment of s 49 (External audits) . . . . . . . . . . . . . . . . . . . . . . 16
29 Insertion of new ch 9, pt 1C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
Part 1C Transitional provision for Audit Legislation
Amendment Act 2005
521D Persons appointed to perform certain audits before
commencement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
Part 13 Amendment of Metropolitan Water Supply and Sewerage
Act 1909
30 Act amended in pt 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
31 Amendment of s 4 (Interpretation) . . . . . . . . . . . . . . . . . . . . . . . . 17
32 Amendment of s 108 (Appointment of auditors). . . . . . . . . . . . . . 18
33 Amendment of s 114 (Special audit) . . . . . . . . . . . . . . . . . . . . . . 18
34 Insertion of new pt 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Part 12 Transitional provisions
157 Transitional provision for Audit Legislation
Amendment Act 2005. . . . . . . . . . . . . . . . . . . . . . . . . 18
3
Audit Legislation Amendment Bill 2005
Part 14 Amendment of Petroleum and Gas (Production and Safety)
Act 2004
35 Act amended in pt 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
36 Amendment of s 605 (Appointment and qualifications) . . . . . . . . 19
Part 15 Amendment of Property Agents and Motor Dealers Act 2000
37 Act amended in pt 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
38 Amendment of s 391 (Definitions for pt 2) . . . . . . . . . . . . . . . . . . 20
39 Insertion of new ch 19, pt 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Part 6 Transitional provision for Audit Legislation
Amendment Act 2005
637 Continuing auditor may perform certain audits. . . . . . 21
Part 16 Amendment of Queensland Police Welfare Club Act 1970
40 Act amended in pt 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
41 Amendment of s 2 (Meaning of terms) . . . . . . . . . . . . . . . . . . . . . 22
42 Amendment of s 3 (Appointment of office-bearers and auditor of
club) .......................................... 22
Part 17 Amendment of Retirement Villages Act 1999
43 Act amended in pt 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
44 Amendment of s 113 (Annual financial statements) . . . . . . . . . . . 23
Part 18 Amendment of Security Providers Act 1993
45 Act amended in pt 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
46 Amendment of s 3 (Definitions) . . . . . . . . . . . . . . . . . . . . . . . . . . 23
Part 19 Amendment of South Bank Corporation Act 1989
47 Act amended in pt 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
48 Replacement of pt 11, hdg . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
49 Insertion of new pt 11, div 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
Division 2 Transitional provision for Audit Legislation
Amendment Act 2005
124 Audit of body corporate's accounts for certain
financial years ........................ 25
50 Amendment of sch 4 (Modified Building Units and Group Titles
Act) .......................................... 25
Part 20 Amendment of Wagering Act 1998
51 Act amended in pt 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
52 Amendment of schedule 2 (Dictionary) . . . . . . . . . . . . . . . . . . . . 26
Part 21 Amendment of other audit legislation
53 Amendments--schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
Schedule Amendment of other audit legislation . . . . . . . . . . . . . . . . . . . 28
Aboriginal Land Act 1991 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
4
Audit Legislation Amendment Bill 2005
Aboriginal Land Regulation 1991 . . . . . . . . . . . . . . . . . . . . . . . . . 28
Body Corporate and Community Management Act 1997. . . . . . . 30
Body Corporate and Community Management (Accommodation
Module) Regulation 1997 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31
Body Corporate and Community Management (Commercial
Module) Regulation 1997 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
Body Corporate and Community Management (Small Schemes
Module) Regulation 1997 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34
Body Corporate and Community Management (Standard
Module) Regulation 1997 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35
Financial Administration and Audit Act 1977 . . . . . . . . . . . . . . . . 37
Financial Administration and Audit Regulation 1995 . . . . . . . . . . 38
Torres Strait Islander Land Act 1991 . . . . . . . . . . . . . . . . . . . . . . 39
Torres Strait Islander Land Regulation 1991 . . . . . . . . . . . . . . . . 39
2005
A Bill
for
An Act to make various amendments of Queensland legislation
relating to qualifications of persons performing audits, and for
other purposes
s1 6 s3
Audit Legislation Amendment Bill 2005
The Parliament of Queensland enacts-- 1
Part 1 Preliminary 2
Clause 1 Short title 3
This Act may be cited as the Audit Legislation Amendment Act 4
2005. 5
Part 2 Amendment of Associations 6
Incorporation Act 1981 7
Clause 2 Act amended in pt 2 8
This part amends the Associations Incorporation Act 1981. 9
Clause 3 Amendment of s 59 (Audit and statement) 10
(1) Section 59(1)(b)(ii) and (iii)-- 11
omit, insert-- 12
`(ii) a member of CPA Australia who is entitled to use 13
the letters `CPA' or `FCPA'; or 14
(iii) a member of The Institute of Chartered 15
Accountants in Australia who is entitled to use the 16
letters `CA' or `FCA'; or 17
(iiia) a member of the National Institute of Accountants 18
who is entitled to use the letters `MNIA', `FNIA', 19
`PNA' or `FPNA'; or'. 20
(2) Section 59(1)(b), (iiia) and (iv)-- 21
renumber as section 59(1)(b)(iv) and (v). 22
s4 7 s5
Audit Legislation Amendment Bill 2005
Clause 4 Insertion of new pt 16 1
After section 144-- 2
insert-- 3
`Part 16 Transitional provisions 4
`145 Transitional provision for Audit Legislation 5
Amendment Act 2005 6
`(1) This section applies if-- 7
(a) before the commencement, an incorporated association 8
appointed a person mentioned in pre-amended section 9
59(1)(b)(ii) or (iii) to audit the association's financial 10
affairs for the 2004-2005 financial year; and 11
(b) the person has not performed the audit before the 12
commencement. 13
`(2) For the purpose of the person performing the audit, 14
pre-amended section 59(1)(b)(ii) or (iii) continues to apply as 15
if the Audit Legislation Amendment Act 2005 had not 16
commenced. 17
`(3) In this section-- 18
commencement means commencement of this section. 19
pre-amended, in relation to section 59(1)(b)(ii) or (iii), means 20
the provision as in force before the commencement.'. 21
Part 3 Amendment of Building Units 22
and Group Titles Act 1980 23
Clause 5 Act amended in pt 3 24
This part amends the Building Units and Group Titles Act 25
1980. 26
s6 8 s8
Audit Legislation Amendment Bill 2005
Clause 6 Amendment of s 7 (Interpretation) 1
Section 7(1), definition qualified auditor, paragraphs (b) and 2
(c)-- 3
omit, insert-- 4
`(b) a member of CPA Australia who is entitled to use the 5
letters `CPA' or `FCPA'; or 6
(c) a member of The Institute of Chartered Accountants in 7
Australia who is entitled to use the letters `CA' or 8
`FCA'; or 9
(d) a member of the National Institute of Accountants who 10
is entitled to use the letters `MNIA', `FNIA', `PNA' or 11
`FPNA'.'. 12
Clause 7 Amendment of s 29B (Audit of accounts of body 13
corporate) 14
Section 29B(2)-- 15
omit, insert-- 16
`(2) The audit of the books and accounts of the body corporate 17
must be performed by a qualified auditor.'. 18
Clause 8 Insertion of new pt 7 19
After section 134-- 20
insert-- 21
`Part 7 Additional transitional 22
provisions 23
`135 Transitional provision for Audit Legislation 24
Amendment Act 2005 25
`(1) This section applies if, before the commencement, a body 26
corporate appointed a person mentioned in pre-amended 27
section 29B(2)(b) to carry out an audit of the books and 28
accounts of the body corporate-- 29
(a) for the 2004-2005 financial year and the person has not 30
carried out the audit; or 31
s9 9 s 10
Audit Legislation Amendment Bill 2005
(b) for the 2005-2006 financial year. 1
`(2) For the purpose of the person carrying out the audit, 2
pre-amended section 29B(2)(b) continues to apply as if the 3
Audit Legislation Amendment Act 2005 had not commenced. 4
`(3) In this section-- 5
commencement means commencement of this section. 6
pre-amended, in relation to section 29B(2)(b), means the 7
provision as in force before the commencement.'. 8
Part 4 Amendment of Charitable and 9
Non-Profit Gaming Act 1999 10
Clause 9 Act amended in pt 4 11
This part amends the Charitable and Non-Profit Gaming Act 12
1999. 13
Clause 10 Amendment of s 85 (Definition for div 6) 14
(1) Section 85, definition accountant, paragraph (b)-- 15
omit, insert-- 16
`(b) a member of CPA Australia who holds a current public 17
practice certificate issued by CPA Australia; or'. 18
(2) Section 85, definition accountant, paragraph (d)-- 19
omit, insert-- 20
`(d) a member of the National Institute of Accountants who 21
holds a current public practice certificate issued by the 22
institute; or'. 23
s 11 10 s 14
Audit Legislation Amendment Bill 2005
Part 5 Amendment of Charitable 1
Funds Act 1958 2
Clause 11 Act amended in pt 5 3
This part amends the Charitable Funds Act 1958. 4
Clause 12 Amendment of s 24 (Audit) 5
(1) Section 24(2)(c)(ii) and (iii)-- 6
omit, insert-- 7
`(ii) a member of CPA Australia who is entitled to use 8
the letters `CPA' or `FCPA'; or 9
(iii) a member of The Institute of Chartered 10
Accountants in Australia who is entitled to use the 11
letters `CA' or `FCA'; or 12
(iiia) a member of the National Institute of Accountants 13
who is entitled to use the letters `MNIA', `FNIA', 14
`PNA' or `FPNA'; or'. 15
(2) Section 24(2)(c), (iiia) and (iv)-- 16
renumber as section 24(2)(c)(iv) and (v). 17
Part 6 Amendment of Collections Act 18
1966 19
Clause 13 Act amended in pt 6 20
This part amends the Collections Act 1966. 21
Clause 14 Amendment of s 31 (Financial statements and audit) 22
(1) Section 31(1)(f)(ii) and (iii)-- 23
omit, insert-- 24
s 15 11 s 15
Audit Legislation Amendment Bill 2005
`(ii) a member of CPA Australia who is entitled to use 1
the letters `CPA' or `FCPA'; or 2
(iii) a member of The Institute of Chartered 3
Accountants in Australia who is entitled to use the 4
letters `CA' or `FCA'; or 5
(iiia) a member of the National Institute of Accountants 6
who is entitled to use the letters `MNIA', `FNIA', 7
`PNA' or `FPNA'; or'. 8
(2) Section 31(1)(f), (iiia) and (iv)-- 9
renumber as section 31(1)(f)(iv) and (v). 10
(3) Section 31(2), `subsection (1)(f)(i) and (ii)'-- 11
omit, insert-- 12
`subsection (1)(f)(i) to (iv)'. 13
Clause 15 Insertion of new pt 9 14
After section 47-- 15
insert-- 16
`Part 9 Transitional provisions 17
`48 Transitional provision for Audit Legislation 18
Amendment Act 2005 19
`(1) This section applies if-- 20
(a) before the commencement-- 21
(i) a charity or association appointed a person 22
mentioned in pre-amended section 31(1)(f)(ii) or 23
(iii) to audit the accounts, moneys and property of 24
the charity or association; or 25
(ii) a promoter of an appeal for support appointed a 26
person mentioned in pre-amended section 27
31(1)(f)(ii) or (iii) to audit the accounts, moneys 28
and property raised by or resulting from the appeal 29
for support; and 30
s 16 12 s 17
Audit Legislation Amendment Bill 2005
(b) the person has not performed the audit before the 1
commencement. 2
`(2) For the purpose of the person performing the audit, 3
pre-amended section 31(1)(f)(ii) or (iii) continues to apply as 4
if the Audit Legislation Amendment Act 2005 had not 5
commenced. 6
`(3) In this section-- 7
commencement means commencement of this section. 8
pre-amended, in relation to section 31(1)(f)(ii) or (iii), means 9
the provision as in force before the commencement.'. 10
Part 7 Amendment of Currumbin Bird 11
Sanctuary Act 1976 12
Clause 16 Act amended in pt 7 13
This part amends the Currumbin Bird Sanctuary Act 1976. 14
Clause 17 Amendment of s 11 (Accounts to be kept) 15
(1) Section 11(3), `and forwarded pursuant to section 28 of the 16
Act'-- 17
omit, insert-- 18
`under the Financial Administration and Audit Act 1977'. 19
(2) Section 11(3)(b), from `or, as the case' to `the Act'-- 20
omit, insert-- 21
`about'. 22
s 18 13 s 21
Audit Legislation Amendment Bill 2005
Part 8 Amendment of Electricity Act 1
1994 2
Clause 18 Act amended in pt 8 3
This part amends the Electricity Act 1994. 4
Clause 19 Amendment of s 20N (Content requirements for audited 5
statement) 6
(1) Section 20N(a), `the Australian Society of Certified Practising 7
Accountants'-- 8
omit, insert-- 9
`CPA Australia'. 10
(2) Section 20N(b)(ii)-- 11
omit, insert-- 12
`(ii) a member of, and holds a practising certificate 13
from CPA Australia, The Institute of Chartered 14
Accountants in Australia or the National Institute 15
of Accountants; and'. 16
Part 9 Amendment of Funeral Benefit 17
Business Act 1982 18
Clause 20 Act amended in pt 9 19
This part amends the Funeral Benefit Business Act 1982. 20
Clause 21 Amendment of s 5 (Definitions) 21
(1) Section 5, definition authorised accountant-- 22
insert-- 23
`(aa) a member of CPA Australia who is entitled to use the 24
letters `CPA' or `FCPA'; or 25
s 22 14 s 23
Audit Legislation Amendment Bill 2005
(ab) a member of The Institute of Chartered Accountants in 1
Australia who is entitled to use the letters `CA' or 2
`FCA'; or 3
(ac) a member of the National Institute of Accountants who 4
is entitled to use the letters `MNIA', `FNIA', `PNA' or 5
`FPNA'; or'. 6
(2) Section 5, definition authorised accountant, paragraphs (aa) 7
to (b)-- 8
renumber as paragraphs (b) to (e). 9
Part 10 Amendment of Gaming 10
Machine Act 1991 11
Clause 22 Act amended in pt 10 12
This part amends the Gaming Machine Act 1991. 13
Clause 23 Amendment of schedule (Dictionary) 14
Schedule, definition approved accountant, paragraphs (b) and 15
(c)-- 16
omit, insert-- 17
`(b) a member of CPA Australia who holds a current public 18
practice certificate issued by CPA Australia; or 19
(c) a member of the National Institute of Accountants who 20
holds a current public practice certificate issued by the 21
institute; or'. 22
s 24 15 s 27
Audit Legislation Amendment Bill 2005
Part 11 Amendment of Gas Supply Act 1
2003 2
Clause 24 Act amended in pt 11 3
This part amends the Gas Supply Act 2003. 4
Clause 25 Amendment of s 227 (Content requirements for audited 5
statement) 6
(1) Section 227(a), from `the Australian' to `; and'-- 7
omit, insert-- 8
`CPA Australia and The Institute of Chartered Accountants in 9
Australia; and'. 10
(2) Section 227(b)(ii)-- 11
omit, insert-- 12
`(ii) a member of, and holds a practising certificate 13
from, CPA Australia, The Institute of Chartered 14
Accountants in Australia or the National Institute 15
of Accountants; and'. 16
Part 12 Amendment of Land Act 1994 17
Clause 26 Act amended in pt 12 18
This part amends the Land Act 1994. 19
Clause 27 Amendment of s 47 (Trustee's accounting functions) 20
Section 47(1)(a) to (c)-- 21
omit, insert-- 22
`(a) member of CPA Australia who is entitled to use the 23
letters `CPA' or `FCPA'; or 24
s 28 16 s 29
Audit Legislation Amendment Bill 2005
(b) member of The Institute of Chartered Accountants in 1
Australia who is entitled to use the letters `CA' or 2
`FCA'; or 3
(c) member of the National Institute of Accountants who is 4
entitled to use the letters `MNIA', `FNIA', `PNA' or 5
`FPNA'; or 6
(d) person approved by the chief executive.'. 7
Clause 28 Amendment of s 49 (External audits) 8
Section 49(a), after `auditor-general,'-- 9
insert-- 10
`a person mentioned in section 47(1)(a) to (d),'. 11
Clause 29 Insertion of new ch 9, pt 1C 12
After section 521C-- 13
insert-- 14
`Part 1C Transitional provision for Audit 15
Legislation Amendment Act 16
2005 17
`521D Persons appointed to perform certain audits before 18
commencement 19
`(1) This section applies if, before the commencement, the trustee 20
of trust land appointed a person mentioned in pre-amended 21
section 47(1)(a) or (b) to audit the trustee's books of 22
account-- 23
(a) for the 2004-2005 financial year and the person has not 24
performed the audit; or 25
(b) for the 2005-2006 financial year. 26
`(2) For the purpose of the person performing the audit, 27
pre-amended section 47(1)(a) or (b) continues to apply as if 28
the Audit Legislation Amendment Act 2005 had not 29
commenced. 30
s 30 17 s 31
Audit Legislation Amendment Bill 2005
`(3) In this section-- 1
commencement means commencement of this section. 2
pre-amended, in relation to section 47(1)(a) or (b), means the 3
provision as in force before the commencement.'. 4
Part 13 Amendment of Metropolitan 5
Water Supply and Sewerage 6
Act 1909 7
Clause 30 Act amended in pt 13 8
This part amends the Metropolitan Water Supply and 9
Sewerage Act 1909. 10
Clause 31 Amendment of s 4 (Interpretation) 11
Section 4-- 12
insert-- 13
`audit office means the Queensland Audit Office established 14
under the Financial Administration and Audit Act 1977, 15
section 47(2). 16
qualified person, for appointment as an auditor under section 17
108(1) or a special auditor under section 114(1), means-- 18
(a) a member of CPA Australia who is entitled to use the 19
letters `CPA' or `FCPA'; or 20
(b) a member of The Institute of Chartered Accountants in 21
Australia who is entitled to use the letters `CA' or 22
`FCA'; or 23
(c) a member of the National Institute of Accountants who 24
is entitled to use the letters `MNIA', `FNIA', `PNA' or 25
`FPNA'; or 26
(d) an officer of the audit office.'. 27
s 32 18 s 34
Audit Legislation Amendment Bill 2005
Clause 32 Amendment of s 108 (Appointment of auditors) 1
Section 108(1), from `some person' to `office,'-- 2
omit, insert-- 3
`a qualified person'. 4
Clause 33 Amendment of s 114 (Special audit) 5
(1) Section 114(1), `a special auditor or special auditors'-- 6
omit, insert-- 7
`a qualified person as a special auditor'. 8
(2) Section 114(2), `auditor or auditors'-- 9
omit, insert-- 10
`special auditor'. 11
(3) Section 114(2), `under this Act'-- 12
omit, insert-- 13
`under section 108'. 14
(4) Section 114(3), `or auditors'-- 15
omit. 16
Clause 34 Insertion of new pt 12 17
After section 156-- 18
insert-- 19
`Part 12 Transitional provisions 20
`157 Transitional provision for Audit Legislation 21
Amendment Act 2005 22
`(1) This section applies if-- 23
(a) before the commencement, the Minister appointed a 24
person, under pre-amended section 114(1), to examine 25
the accounts of the board for a period fixed by the 26
Minister; and 27
(b) the period has not ended. 28
s 35 19 s 36
Audit Legislation Amendment Bill 2005
`(2) Pre-amended section 114 continues to apply as if the Audit 1
Legislation Amendment Act 2005 had not commenced. 2
`(3) In this section-- 3
commencement means commencement of this section. 4
pre-amended, in relation to section 114, means the section as 5
in force before the commencement.'. 6
Part 14 Amendment of Petroleum and 7
Gas (Production and Safety) 8
Act 2004 9
Clause 35 Act amended in pt 14 10
This part amends the Petroleum and Gas (Production and 11
Safety) Act 2004. 12
Clause 36 Amendment of s 605 (Appointment and qualifications) 13
Section 605(2)-- 14
omit, insert-- 15
`(2) However, the chief executive may appoint a person as an 16
approved auditor only if-- 17
(a) the person is-- 18
(i) a member of CPA Australia who is entitled to use 19
the letters `CPA' or `FCPA'; or 20
(ii) a member of The Institute of Chartered 21
Accountants in Australia who is entitled to use the 22
letters `CA' or `FCA'; or 23
(iii) a member of the National Institute of Accountants 24
who is entitled to use the letters `MNIA', `FNIA', 25
`PNA' or `FPNA'; or 26
(b) the chief executive is satisfied the person is qualified for 27
appointment because the person has the necessary 28
s 37 20 s 39
Audit Legislation Amendment Bill 2005
expertise or experience to carry out an audit under this 1
division.'. 2
Part 15 Amendment of Property Agents 3
and Motor Dealers Act 2000 4
Clause 37 Act amended in pt 15 5
This part amends the Property Agents and Motor Dealers Act 6
2000. 7
Clause 38 Amendment of s 391 (Definitions for pt 2) 8
Section 391, definition qualified auditor, paragraphs (b) and 9
(c)-- 10
omit, insert-- 11
`(b) a member of CPA Australia who is entitled to use the 12
letters `CPA' or `FCPA'; or 13
(c) a member of The Institute of Chartered Accountants in 14
Australia who is entitled to use the letters `CA' or 15
`FCA'; or 16
(d) a member of the National Institute of Accountants who 17
is entitled to use the letters `MNIA', `FNIA', `PNA' or 18
`FPNA'.'. 19
Clause 39 Insertion of new ch 19, pt 6 20
Chapter 19, after pt 5-- 21
insert-- 22
s 39 21 s 39
Audit Legislation Amendment Bill 2005
`Part 6 Transitional provision for Audit 1
Legislation Amendment Act 2
2005 3
`637 Continuing auditor may perform certain audits 4
`(1) This section applies if-- 5
(a) before the commencement, a principal licensee 6
appointed a continuing auditor to audit the licensee's 7
trust accounts for an audit period mentioned in chapter 8
12, part 2, division 3; and 9
(b) either of the following apply-- 10
(i) the audit period has ended before the 11
commencement and the continuing auditor has not 12
performed the audit; 13
(ii) the audit period ends on, or within 12 months after, 14
the commencement. 15
`(2) For the purpose of the continuing auditor performing the 16
audit, the pre-amended provision continues to apply as if the 17
Audit Legislation Amendment Act 2005 had not commenced. 18
`(3) In this section-- 19
commencement means commencement of this section. 20
continuing auditor means a person mentioned in the 21
pre-amended provision. 22
pre-amended provision means section 391, definition 23
qualified auditor, paragraph (b) or (c), as in force before the 24
commencement.'. 25
s 40 22 s 42
Audit Legislation Amendment Bill 2005
Part 16 Amendment of Queensland 1
Police Welfare Club Act 1970 2
Clause 40 Act amended in pt 16 3
This part amends the Queensland Police Welfare Club Act 4
1970. 5
Clause 41 Amendment of s 2 (Meaning of terms) 6
(1) Section 2, heading-- 7
omit, insert-- 8
`2 Definitions'. 9
(2) Section 2-- 10
insert-- 11
`qualified person means-- 12
(a) a member of CPA Australia who is entitled to use the 13
letters `CPA' or `FCPA'; or 14
(b) a member of The Institute of Chartered Accountants in 15
Australia who is entitled to use the letters `CA' or 16
`FCA'; or 17
(c) a member of the National Institute of Accountants who 18
is entitled to use the letters `MNIA', `FNIA', `PNA' or 19
`FPNA'.'. 20
Clause 42 Amendment of s 3 (Appointment of office-bearers and 21
auditor of club) 22
Section 3(2), from `person' to `audit'-- 23
omit, insert-- 24
`qualified person'. 25
s 43 23 s 46
Audit Legislation Amendment Bill 2005
Part 17 Amendment of Retirement 1
Villages Act 1999 2
Clause 43 Act amended in pt 17 3
This part amends the Retirement Villages Act 1999. 4
Clause 44 Amendment of s 113 (Annual financial statements) 5
Section 113(2), from `either' to `auditor.'-- 6
omit, insert-- 7
`any of the following-- 8
`(a) a member of CPA Australia who holds a current public 9
practice certificate issued by CPA Australia; 10
(b) a member of The Institute of Chartered Accountants in 11
Australia who holds a current public practice certificate 12
issued by the Institute; 13
(c) a member of the National Institute of Accountants who 14
holds a current public practice certificate issued by the 15
Institute; 16
(d) a registered company auditor.'. 17
Part 18 Amendment of Security 18
Providers Act 1993 19
Clause 45 Act amended in pt 18 20
This part amends the Security Providers Act 1993. 21
Clause 46 Amendment of s 3 (Definitions) 22
Section 3, definition accountant, paragraphs (b) and (c)-- 23
omit, insert-- 24
s 47 24 s 49
Audit Legislation Amendment Bill 2005
`(b) a member of CPA Australia who is entitled to use the 1
letters `CPA' or `FCPA'; or 2
(c) a member of The Institute of Chartered Accountants in 3
Australia who is entitled to use the letters `CA' or 4
`FCA'; or 5
(d) a member of the National Institute of Accountants who 6
is entitled to use the letters `MNIA', `FNIA', `PNA' or 7
`FPNA'.'. 8
Part 19 Amendment of South Bank 9
Corporation Act 1989 10
Clause 47 Act amended in pt 19 11
This part amends the South Bank Corporation Act 1989. 12
Clause 48 Replacement of pt 11, hdg 13
Part 11, heading-- 14
omit, insert-- 15
`Part 11 Transitional provisions 16
`Division 1 Transitional provisions for South 17
Bank Corporation and Other Acts 18
Amendment Act 2003'. 19
Clause 49 Insertion of new pt 11, div 2 20
After section 123-- 21
insert-- 22
s 50 25 s 50
Audit Legislation Amendment Bill 2005
`Division 2 Transitional provision for Audit 1
Legislation Amendment Act 2005 2
`124 Audit of body corporate's accounts for certain 3
financial years 4
`(1) This section applies if, before the commencement, a body 5
corporate appointed a person mentioned in pre-amended 6
schedule 4, section 29B(2)(b) to carry out an audit of the 7
books and accounts of the body corporate-- 8
(a) for the 2004-2005 financial year and the person has not 9
carried out the audit; or 10
(b) for the 2005-2006 financial year. 11
`(2) For the purpose of the person carrying out the audit, 12
pre-amended schedule 4, section 29B(2)(b) continues to apply 13
as if the Audit Legislation Amendment Act 2005 had not 14
commenced. 15
`(3) In this section-- 16
commencement means commencement of this section. 17
pre-amended, in relation to schedule 4, section 29B(2)(b), 18
means the provision as in force before the commencement.'. 19
Clause 50 Amendment of sch 4 (Modified Building Units and Group 20
Titles Act) 21
(1) Schedule 4, section 7(1)-- 22
insert-- 23
`qualified auditor means-- 24
(a) a person registered as an auditor under the Corporations 25
Act; or 26
(b) a member of CPA Australia who is entitled to use the 27
letters `CPA' or `FCPA'; or 28
(c) a member of The Institute of Chartered Accountants in 29
Australia who is entitled to use the letters `CA' or 30
`FCA'; or 31
s 51 26 s 52
Audit Legislation Amendment Bill 2005
(d) a member of the National Institute of Accountants who 1
is entitled to use the letters `MNIA', `FNIA', `PNA' or 2
`FPNA'.'. 3
(2) Schedule 4, section 29(2)(h)-- 4
omit, insert-- 5
`(h) to decide whether to appoint a person to audit the books 6
and accounts of the body corporate;'. 7
(3) Schedule 4, section 29B(2)-- 8
omit, insert-- 9
`(2) The audit of the books and accounts of the body corporate 10
must be performed only by a qualified auditor.'. 11
(4) Schedule 4, section 94B, from `person registered' to `who'-- 12
omit, insert-- 13
`qualified auditor who'. 14
(5) Schedule 4, schedule 2, part 2, section 1(5)(ba), from `person' 15
to `to audit'-- 16
omit, insert-- 17
`qualified auditor to audit'. 18
Part 20 Amendment of Wagering Act 19
1998 20
Clause 51 Act amended in pt 20 21
This part amends the Wagering Act 1998. 22
Clause 52 Amendment of schedule 2 (Dictionary) 23
(1) Schedule 2, definition approved accountant, paragraph (b)-- 24
omit, insert-- 25
`(b) a member of CPA Australia who holds a current public 26
practice certificate issued by CPA Australia; or 27
s 53 27 s 53
Audit Legislation Amendment Bill 2005
(ba) a member of the National Institute of Accountants who 1
holds a current public practice certificate issued by the 2
institute; or'. 3
(2) Schedule 2, definition approved accountant, paragraph (c), 4
`paragraph (a) or (b)'-- 5
omit, insert-- 6
`paragraph (a), (b) or (c)'. 7
(3) Schedule 2, definition approved accountant, paragraphs (ba) 8
and (c)-- 9
renumber as paragraphs (c) and (d). 10
Part 21 Amendment of other audit 11
legislation 12
Clause 53 Amendments--schedule 13
The schedule amends the Acts and regulations mentioned in 14
it. 15
28
Audit Legislation Amendment Bill 2005
Schedule Amendment of other audit 1
legislation 2
section 53 3
Aboriginal Land Act 1991 4
1 After section 139-- 5
insert-- 6
`Part 11 Transitional provision for Audit 7
Legislation Amendment Act 8
2005 9
`140 Further amendment, or repeal, of Aboriginal Land 10
Regulation 1991 11
`The amendment of the Aboriginal Land Regulation 1991 by 12
the Audit Legislation Amendment Act 2005 does not affect the 13
power of the Governor in Council to further amend that 14
regulation or to repeal it.'. 15
Aboriginal Land Regulation 1991 16
1 Section 35C(1)(a) and (b)-- 17
omit, insert-- 18
`(a) a member of CPA Australia who is entitled to use the 19
letters `CPA' or `FCPA'; or 20
(b) a member of The Institute of Chartered Accountants in 21
Australia who is entitled to use the letters `CA' or 22
`FCA'; or 23
29
Audit Legislation Amendment Bill 2005
Schedule (continued)
(ba) a member of the National Institute of Accountants who 24
is entitled to use the letters `MNIA', `FNIA', `PNA' or 25
`FPNA'; or'. 26
2 Section 35C(1)(ba) and (c)-- 1
renumber as section 35C(1)(c) and (d). 2
3 Part 9, heading-- 3
omit, insert-- 4
`Part 9 Transitional provisions 5
`Division 1 Transitional provisions for Natural 6
Resources Legislation Amendment 7
Regulation (No. 2) 1998'. 8
4 After section 64-- 9
insert-- 10
`Division 2 Transitional provision for Audit 11
Legislation Amendment Act 2005 12
`65 Persons appointed to perform certain audits before 13
commencement 14
`(1) This section applies if, before the commencement, a land trust 15
appointed a person mentioned in pre-amended section 16
35C(1)(a) or (b) to audit the land trust's accounts-- 17
(a) for the 2004-2005 financial year and the person has not 18
performed the audit; or 19
(b) for the 2005-2006 financial year. 20
`(2) For the purpose of the person performing the audit, 21
pre-amended section 35C(1)(a) or (b) continues to apply as if 22
30
Audit Legislation Amendment Bill 2005
Schedule (continued)
the Audit Legislation Amendment Act 2005 had not 23
commenced. 24
`(3) In this section-- 25
commencement means commencement of this section. 26
pre-amended, in relation to section 35C(1)(a) or (b), means 1
the provision as in force before the commencement.'. 2
Body Corporate and Community Management Act 3
1997 4
1 Chapter 8-- 5
insert-- 6
`Part 5 Transitional provision for Audit 7
Legislation Amendment Act 8
2005 9
`356 Further amendment, or repeal, of certain regulations 10
`The amendment of the following regulations by the Audit 11
Legislation Amendment Act 2005 does not affect the power of 12
the Governor in Council to further amend the regulations or to 13
repeal them-- 14
(a) Body Corporate and Community Management 15
(Accommodation Module) Regulation 1997; 16
(b) Body Corporate and Community Management 17
(Commercial Module) Regulation 1997; 18
(c) Body Corporate and Community Management (Small 19
Schemes Module) Regulation 1997; 20
(d) Body Corporate and Community Management 21
(Standard Module) Regulation 1997.'. 22
31
Audit Legislation Amendment Bill 2005
Schedule (continued)
Body Corporate and Community Management 23
(Accommodation Module) Regulation 1997 24
1 Section 106-- 25
omit, insert-- 26
`106 Auditing qualifications and experience--Act, sch 6 [SM, s 1
107] 2
`(1) For schedule 6 of the Act, definition auditor, paragraph (a)(ii), 3
the qualifications and experience in accountancy that are 4
approved for a person are stated in subsection (2). 5
`(2) The person must-- 6
(a) be a member of-- 7
(i) CPA Australia and entitled to use the letters `CPA' 8
or `FCPA'; or 9
(ii) The Institute of Chartered Accountants in Australia 10
and entitled to use the letters `CA' or `FCA'; or 11
(iii) the National Institute of Accountants and entitled 12
to use the letters `MNIA', `FNIA', `PNA' or 13
`FPNA'; and 14
(b) have a total of 2 years auditing experience, whether or 15
not continuous.'. 16
2 Part 11 heading-- 17
omit, insert-- 18
`Part 11 Transitional provisions for 19
Body Corporate and 20
Community Management 21
Legislation Amendment 22
Regulation (No. 1) 2003'. 23
32
Audit Legislation Amendment Bill 2005
Schedule (continued)
3 After section 161-- 24
insert-- 25
`Part 12 Other transitional provisions 1
`162 Transitional provision for Audit Legislation Amendment 2
Act 2005 3
`(1) This section applies if-- 4
(a) before the commencement, a body corporate appointed 5
a person with qualifications and experience in 6
accountancy mentioned in pre-amended section 106, to 7
audit its statement of accounts for a financial year; and 8
(b) either of the following apply-- 9
(i) the financial year has ended before the 10
commencement and the person has not performed 11
the audit; 12
(ii) the financial year ends on, or within 12 months 13
after, the commencement. 14
`(2) For the purpose of the person performing the audit, 15
pre-amended section 106 continues to apply as if the Audit 16
Legislation Amendment Act 2005 had not commenced. 17
`(3) In this section-- 18
commencement means commencement of this section. 19
pre-amended, in relation to section 106, means the section as 20
in force before the commencement.'. 21
Body Corporate and Community Management 22
(Commercial Module) Regulation 1997 23
1 Section 87-- 24
omit, insert-- 25
33
Audit Legislation Amendment Bill 2005
Schedule (continued)
`87 Auditing qualifications and experience--Act, sch 6 [SM, s 1
107] 2
`(1) For schedule 6 of the Act, definition auditor, paragraph (a)(ii), 3
the qualifications and experience in accountancy that are 4
approved for a person are stated in subsection (2). 5
`(2) The person must-- 6
(a) be a member of-- 7
(i) CPA Australia and entitled to use the letters `CPA' 8
or `FCPA'; or 9
(ii) The Institute of Chartered Accountants in Australia 10
and entitled to use the letters `CA' or `FCA'; or 11
(iii) the National Institute of Accountants and entitled 12
to use the letters `MNIA', `FNIA', `PNA' or 13
`FPNA'; and 14
(b) have a total of 2 years auditing experience, whether or 15
not continuous.'. 16
2 After section 134-- 17
insert-- 18
`Part 11 Transitional provisions 19
`135 Transitional provision for Audit Legislation Amendment 20
Act 2005 21
`(1) This section applies if-- 22
(a) before the commencement, a body corporate appointed 23
a person with qualifications and experience in 24
accountancy mentioned in pre-amended section 87, to 25
audit its statement of accounts for a financial year; and 26
(b) either of the following apply-- 27
(i) the financial year has ended before the 28
commencement and the person has not performed 29
the audit; 30
34
Audit Legislation Amendment Bill 2005
Schedule (continued)
(ii) the financial year ends on, or within 12 months 1
after, the commencement. 2
`(2) For the purpose of the person performing the audit, 3
pre-amended section 87 continues to apply as if the Audit 4
Legislation Amendment Act 2005 had not commenced. 5
`(3) In this section-- 6
commencement means commencement of this section. 7
pre-amended, in relation to section 87, means the section as in 8
force before the commencement.'. 9
Body Corporate and Community Management (Small 10
Schemes Module) Regulation 1997 11
1 Section 68-- 12
omit, insert-- 13
`68 Auditing qualifications and experience--Act, sch 6 [SM, s 14
107] 15
`(1) For schedule 6 of the Act, definition auditor, paragraph (a)(ii), 16
the qualifications and experience in accountancy that are 17
approved for a person are stated in subsection (2). 18
`(2) The person must be a member of-- 19
(a) CPA Australia and entitled to use the letters `CPA' or 20
`FCPA'; or 21
(b) The Institute of Chartered Accountants in Australia and 22
entitled to use the letters `CA' or `FCA'; or 23
(c) the National Institute of Accountants and entitled to use 24
the letters `MNIA', `FNIA', `PNA' or `FPNA'.'. 25
2 After part 10-- 26
insert-- 27
35
Audit Legislation Amendment Bill 2005
Schedule (continued)
`Part 11 Transitional provisions 1
`114 Transitional provision for Audit Legislation Amendment 2
Act 2005 3
`(1) This section applies if-- 4
(a) before the commencement, a body corporate appointed 5
a person with qualifications and experience in 6
accountancy considered appropriate by the body 7
corporate under pre-amended section 68, to audit its 8
statement of accounts for a financial year; and 9
(b) either of the following apply-- 10
(i) the financial year has ended before the 11
commencement and the person has not performed 12
the audit; 13
(ii) the financial year ends on, or within 12 months 14
after, the commencement. 15
`(2) For the purpose of the person performing the audit, 16
pre-amended section 68 continues to apply as if the Audit 17
Legislation Amendment Act 2005 had not commenced. 18
`(3) In this section-- 19
commencement means commencement of this section. 20
pre-amended, in relation to section 68, means the section as in 21
force before the commencement.'. 22
Body Corporate and Community Management 23
(Standard Module) Regulation 1997 24
1 Section 107-- 25
omit, insert-- 26
36
Audit Legislation Amendment Bill 2005
Schedule (continued)
`107 Auditing qualifications and experience--Act, sch 6 1
`(1) For schedule 6 of the Act, definition auditor, paragraph (a)(ii), 2
the qualifications and experience in accountancy that are 3
approved for a person are stated in subsection (2). 4
`(2) The person must-- 5
(a) be a member of-- 6
(i) CPA Australia and entitled to use the letters `CPA' 7
or `FCPA'; or 8
(ii) The Institute of Chartered Accountants in Australia 9
and entitled to use the letters `CA' or `FCA'; or 10
(iii) the National Institute of Accountants and entitled 11
to use the letters `MNIA', `FNIA', `PNA' or 12
`FPNA'; and 13
(b) have a total of 2 years auditing experience, whether or 14
not continuous.'. 15
2 Part 11 heading-- 16
omit, insert-- 17
`Part 11 Transitional provisions for 18
Body Corporate and 19
Community Management 20
Legislation Amendment 21
Regulation (No. 1) 2003'. 22
3 After section 162-- 23
insert-- 24
`Part 12 Other transitional provisions 25
`163 Transitional provision for Audit Legislation Amendment 26
Act 2005 27
`(1) This section applies if-- 28
37
Audit Legislation Amendment Bill 2005
Schedule (continued)
(a) before the commencement, a body corporate appointed 1
a person with qualifications and experience in 2
accountancy mentioned in pre-amended section 107, to 3
audit its statement of accounts for a financial year; and 4
(b) either of the following apply-- 5
(i) the financial year has ended before the 6
commencement and the person has not performed 7
the audit; 8
(ii) the financial year ends on, or within 12 months 9
after, the commencement. 10
`(2) For the purpose of the person performing the audit, 11
pre-amended section 107 continues to apply as if the Audit 12
Legislation Amendment Act 2005 had not commenced. 13
`(3) In this section-- 14
commencement means commencement of this section. 15
pre-amended, in relation to section 107, means the section as 16
in force before the commencement.'. 17
Financial Administration and Audit Act 1977 18
1 Part 8-- 19
insert-- 20
`Division 5 Transitional provision for Audit 21
Legislation Amendment Act 2005 22
`142 Further amendment, or repeal, of Financial 23
Administration and Audit Regulation 1995 24
`The amendment of the Financial Administration and Audit 25
Regulation 1995 by the Audit Legislation Amendment Act 26
2005 does not affect the power of the Governor in Council to 27
further amend that regulation or to repeal it.'. 28
38
Audit Legislation Amendment Bill 2005
Schedule (continued)
Financial Administration and Audit Regulation 1995 1
1 Section 3(2)(b)(i) and (ii)-- 2
omit, insert-- 3
`(i) a member of CPA Australia who is entitled to use 4
the letters `CPA' or `FCPA'; or 5
(ii) a member of The Institute of Chartered 6
Accountants in Australia who is entitled to use the 7
letters `CA' or `FCA'; or 8
(iia) a member of the National Institute of Accountants 9
who is entitled to use the letters `MNIA', `FNIA', 10
`PNA' or `FPNA'; or'. 11
2 Section 3(2)(b)(iia) to (iv)-- 12
renumber as section 3(2)(b)(iii) to (v). 13
3 After section 4-- 14
insert-- 15
`5 Transitional provision for Audit Legislation Amendment 16
Act 2005 17
`(1) This section applies if-- 18
(a) before the commencement, a parents and citizens 19
association appointed a person mentioned in 20
pre-amended section 3(2)(b)(i) or (ii) to audit the 21
association for a financial year; and 22
(b) either of the following apply-- 23
(i) the financial year has ended before the 24
commencement and the person has not performed 25
the audit; 26
(ii) the financial year ends on, or within 12 months 27
after, the commencement. 28
39
Audit Legislation Amendment Bill 2005
Schedule (continued)
`(2) For the purpose of the person performing the audit, 1
pre-amended section 3(2)(b)(i) or (ii) continues to apply as if 2
the Audit Legislation Amendment Act 2005 had not 3
commenced. 4
`(3) In this section-- 5
commencement means commencement of this section. 6
pre-amended, in relation to section 3(2)(b)(i) or (ii), means 7
the provision as in force before the commencement.'. 8
Torres Strait Islander Land Act 1991 9
1 After section 135-- 10
insert-- 11
`Part 10 Transitional provision for Audit 12
Legislation Amendment Act 13
2005 14
`136 Further amendment, or repeal, of Torres Strait Islander 15
Land Regulation 1991 16
`The amendment of the Torres Strait Islander Land 17
Regulation 1991 by the Audit Legislation Amendment Act 18
2005 does not affect the power of the Governor in Council to 19
further amend that regulation or to repeal it.'. 20
Torres Strait Islander Land Regulation 1991 21
1 Section 35C(1)(a) and (b)-- 22
omit, insert-- 23
40
Audit Legislation Amendment Bill 2005
Schedule (continued)
`(a) a member of CPA Australia who is entitled to use the 24
letters `CPA' or `FCPA'; or 25
(b) a member of The Institute of Chartered Accountants in 1
Australia who is entitled to use the letters `CA' or 2
`FCA'; or 3
(ba) a member of the National Institute of Accountants who 4
is entitled to use the letters `MNIA', `FNIA', `PNA' or 5
`FPNA'; or'. 6
2 Section 35C(1)(ba) and (c)-- 7
renumber as section 35C(1)(c) and (d). 8
3 Part 9, heading-- 9
omit, insert-- 10
`Part 9 Transitional provisions 11
`Division 1 Transitional provisions for Natural 12
Resources Legislation Amendment 13
Regulation (No. 2) 1998'. 14
4 After section 59-- 15
insert-- 16
`Division 2 Transitional provision for Audit 17
Legislation Amendment Act 2005 18
`60 Persons appointed to perform certain audits before 19
commencement 20
`(1) This section applies if, before the commencement, a land trust 21
appointed a person mentioned in pre-amended section 22
35C(1)(a) or (b) to audit the land trust's accounts-- 23
41
Audit Legislation Amendment Bill 2005
Schedule (continued)
(a) for the 2004-2005 financial year and the person has not 24
performed the audit; or 25
(b) for the 2005-2006 financial year. 26
`(2) For the purpose of the person performing the audit, 1
pre-amended section 35C(1)(a) or (b) continues to apply as if 2
the Audit Legislation Amendment Act 2005 had not 3
commenced. 4
`(3) In this section-- 5
commencement means commencement of this section. 6
pre-amended, in relation to section 35C(1)(a) or (b), means 7
the provision as in force before the commencement.'. 8
© State of Queensland 2005
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