Commonwealth Consolidated Acts Commonwealth Consolidated Acts(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.