Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 10.2.67

Auditor's report in certain matters: financial services licensee who formerly held a dealer's licence

             (1)  For section 1444 of the Act, this regulation applies in relation to a financial services licensee:

                     (a)  who is a regulated principal mentioned in item 1 of the table in section 1430 of the Act; and

                     (b)  whose financial services licence covers regulated activities for a regulated principal of that kind.

             (2)  Section 990K of the Act applies in relation to an auditor of a financial services licensee mentioned in subregulation (1) as if subsection 990K(2) required the auditor to give a report on any matter that, in the opinion of the auditor:

                     (a)  adversely affected the ability of the licensee to meet its obligations as a securities dealer before the time that it became a financial services licensee in relation to the regulated activities mentioned in item 1 of the table in section 1430 of the Act; or

                     (b)  constitutes, or may constitute, a contravention of the condition of the dealers licence held by the licensee before the time that it became a financial services licensee in relation to the regulated activities mentioned in item 1 of the table in section 1430 of the Act; or

                     (c)  constitutes, or may constitute, a contravention of section 856, 866, 867, 868, 869, 870, 871, 872 or 873, or Part 7.7 of the old Corporations Act.



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