Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Chair of the FRC, acting on behalf of the FRC, may give a professional accounting body a written notice requiring the body to give the FRC:
(i) a code of professional conduct of the body; or
(ii) a proposed code of professional conduct of the body; or
(iii) a proposed amendment of a code of professional conduct of the body; or
(b) information about the body's planning or performance of quality assurance reviews; or
(c) details of the body's investigation or disciplinary procedures.
(2) The notice may require the body to give the FRC information under paragraph (1)(b) or (c) only to the extent to which the information relates to audit work done by Australian auditors.
(3) A professional accounting body has qualified privilege in respect of a disclosure made by the body in response to a notice given to the body under subsection (1).
(4) A person has qualified privilege in respect of a disclosure made by the person, on behalf of a professional accounting body, in response to a notice given to the professional body under subsection (1).
(7) The notice under subsection (1) must specify:
(a) the information or documents the professional accounting body must give; and
(b) the period within which the body must give the information or documents.
The period specified under paragraph (b) must be not less than 28 days after the day on which the notice is given.
(8) The Chair of the FRC, acting on behalf of the FRC, may, by written notice to the professional accounting body, extend the period within which the body must give the information or documents.
(9) A person commits an offence if:
(a) the Chair of the FRC gives the person notice under subsection (1); and
(b) the person does not comply with the notice.
(10) An offence against subsection (9) is an offence of strict liability.
Note: For strict liability see section 6.1 of the Criminal Code
.