Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 332G

Offences by members of audit firm

             (1)  This Part applies to an audit firm as if it were a person, but with the changes set out in this section.

             (2)  An obligation that would otherwise be imposed on the firm by a provision of this Part is imposed on each member of the firm instead, but may be discharged by any of the members.

             (3)  An offence based on a provision of this Part that would otherwise be committed by the audit firm is taken to have been committed by each member of the firm.

             (4)  A member of the firm does not commit an offence because of subsection (3) if the member:

                     (a)  does not know of the circumstances that constitute the contravention of the provision concerned; or

                     (b)  knows of those circumstances but takes all reasonable steps to correct the contravention as soon as possible after the member becomes aware of those circumstances.

Note:          A defendant bears an evidential burden in relation to the matters in subsection (4)--see subsection 13.3(3) of the Criminal Code .

   



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