Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An individual contravenes this section if:
(a) one of the following imposes a requirement in relation to the audit of a financial report of an Aboriginal and Torres Strait Islander corporation:
(i) an applied provision of the Corporations Act;
(ii) regulations made for the purposes of section 333- 15;
(iii) a determination by the Registrar under section 336-1 or 336-5; and
(b) the requirement is that, if the auditor is an individual auditor, the auditor must have particular qualification or experience; and
(c) the individual acts as auditor in relation to the financial report or that part of it; and
(d) the individual does not have the qualification or experience referred to in paragraph (b).
Penalty: 25 penalty units or imprisonment for 6 months, or both.
(2) An individual contravenes this section if:
(a) one of the following requires that a person may only participate in a particular capacity in the conduct of the audit of a financial report of an Aboriginal and Torres Strait Islander corporation if the person has particular qualifications or experience:
(i) an applied provision of the Corporations Act;
(ii) regulations made for the purposes of section 333- 15;
(iii) a determination by the Registrar under section 336-1 or 336-5; and
(b) the individual participates in that capacity in the conduct of the audit of the financial report; and
(c) the individual does not have those qualifications or that experience.
Penalty: 25 penalty units or imprisonment for 6 months, or both.