Section 1299K — Corporations Act 2001: Time when ASIC’s decision comes into effect

(1) A decision by ASIC to cancel or suspend a company’s registration as an authorised audit company comes into effect at the end of the day on which the company is given notice of the decision under paragraph 1299J(1)(a). This subsection has effect subject to subsection (2) and sections 32, 127 and 178 of the Administrative Review Tribunal Act 2024. (2) ASIC may, in order to enable an application to be made to the Tribunal for review of the decision to cancel or suspend the registration, determine that the decision to cancel or suspend the company’s registration as an authorised audit company is not to come into effect until: (a) a specified time; or (b) the happening of a specified event. (3) ASIC may at any time vary or revoke a determination made under subsection (2), including such a determination that has been varied at least once before. (4) A determination in force under subsection (2) has effect accordingly.