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CORPORATIONS ACT 2001 - SECT 921R

Notices to Tax Practitioners Board about qualified tax relevant providers who are registered tax agents

             (1)  ASIC must give a written notice to the Tax Practitioners Board if an action specified in subsection (2) is taken against a qualified tax relevant provider who is a registered tax agent.

             (2)  The following actions are specified:

                     (a)  a Financial Services and Credit Panel making an instrument under subsection 921K(1) in relation to the qualified tax relevant provider;

                     (b)  ASIC giving the qualified tax relevant provider a warning or reprimand under subsection 921S(1);

                     (c)  a Financial Services and Credit Panel giving the qualified tax relevant provider a warning or reprimand under subsection 921T(1);

                     (d)  a Financial Services and Credit Panel giving the qualified tax relevant provider an infringement notice for the alleged contravention by the qualified tax relevant provider of a restricted civil penalty provision;

                     (e)  ASIC making an application under subsection 1317J(1) in relation to the alleged contravention by the qualified tax relevant provider of a restricted civil penalty provision;

                      (f)  a Financial Services and Credit Panel accepting an undertaking by the qualified tax relevant provider under subsection 171E(1) of the ASIC Act.

             (3)  A notice under subsection (1) must include:

                     (a)  details of the action; and

                     (b)  if the action is a Financial Services and Credit Panel making an instrument under subsection 921K(1)--the panel's reasons for making the instrument; and

                     (c)  if the action is ASIC giving the qualified tax relevant provider a warning or reprimand--ASIC's reasons for giving the warning or reprimand; and

                     (d)  if the action is a Financial Services and Credit Panel giving the qualified tax relevant provider a warning or reprimand--the panel's reasons for giving the warning or reprimand.

Notice about variation etc. of certain instruments

             (4)  ASIC must give a written notice to the Tax Practitioners Board if:

                     (a)  ASIC has given a notice to the Tax Practitioners Board under subsection (1); and

                     (b)  an instrument mentioned in that notice is subsequently varied, revoked or withdrawn.

             (5)  A notice under subsection (4) must include details of the variation, revocation or withdrawal, as the case may be.



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