Corporations Act 2001
Sections and provisions with full text and the judgments that cite each one.
Section 1287 — Notification of certain matters
(1) Where: (a) a person who is a registered company auditor ceases to practise as an auditor; or (b) a change occurs in any matter particulars of which are required by paragraph 1285(1)(a), (c) or…
Section 1287A — Annual statements by registered company auditors
(1) A person who is a registered company auditor must, within one month after the end of: (a) the period of 12 months beginning on the day on which the person’s registration begins; and (b) each…
Section 1289 — Auditors and other persons to enjoy qualified privilege in certain circumstances
Qualified privilege for auditor (1) An auditor has qualified privilege in respect of: (a) a statement that the auditor makes (orally or in writing) in the course of the auditor’s duties as auditor;…
Section 1289A — ASIC may impose conditions on registration
(1) Under this section, ASIC may impose only conditions of a kind specified in the regulations. (2) Subject to this section, ASIC may, at any time, by giving written notice to a person registered as…
Section 1290 — Cancellation at request of registered person
(1) Where a person who is registered as an auditor requests ASIC to cancel his or her registration, ASIC may cancel the registration of that person as an auditor. (2) A decision of ASIC under…
Section 1291 — Immediate suspension or cancellation
ASIC may cancel or suspend a person’s registration as an auditor if: (a) the person is liable to pay levy imposed by the ASIC Supervisory Cost Recovery Levy Act 2017; and (b) the following have not…
Section 1291A — Notice of suspension or cancellation
Application of this section (1) This section applies if ASIC decides under section 1291 to suspend or cancel the registration of a person as an auditor. ASIC must give notice of decision (2) ASIC…
Section 1291B — ASIC may vary or revoke suspension
(1) This section applies if ASIC has suspended the registration of a person as an auditor under section 1291. (2) ASIC may at any time vary or revoke the suspension by giving written notice to the…
Section 1292 — Powers of Board in relation to auditors
(1) The Board may, if it is satisfied on an application by ASIC or APRA for a person who is registered as an auditor to be dealt with under this section that, before, at or after the commencement of…
Section 1294 — Board to give opportunity for hearing etc.
(1) The Board must not: (a) cancel or suspend the registration of a person as an auditor; or (b) deal with a person in any of the ways mentioned in subsection 1292(9); unless the Board has given the…
Section 1294A — Pre-hearing conference
(1) If subsection 1294(1) requires the Board to give a person an opportunity to appear at a hearing and to make submissions to, and bring evidence before, the Board in relation to a matter, the…
Section 1295 — Board may remove suspension
(1) Where a registration of a person as an auditor is suspended by the Board, the Board may, on an application by the person or of its own motion, by order, terminate the suspension. (2) An order…
Section 1296 — Notice of Board’s decision
(1) Where the Board decides to exercise any of its powers under section 1292 in relation to a person, or decides that it is required to make an order under subsection 1292(7) in relation to a person,…
Section 1297 — Time when Board’s decision comes into effect
(1) Subject to subsection (2) and sections 32, 127 and 178 of the Administrative Review Tribunal Act 2024, an order made by the Board cancelling or suspending the registration of a person as an…
Section 1298 — Effect of suspension
A person whose registration as an auditor is suspended is, except for the purposes of subsection 1285(2), section 1287 (other than paragraph 1287(1)(a)), section 1287A and this Division, taken not to…
Section 1298P — Validation of approval of auditing competency standard
(1) This section applies, for the purposes of the laws of the Commonwealth (including this Act), in relation to the approval dated 24 November 2004 under section 1280A of an auditing competency…
Section 1298Q — Compensation for acquisition of property
(1) If the operation of section 1298P would result in an acquisition of property from a person otherwise than on just terms, the Commonwealth is liable to pay a reasonable amount of compensation to…
Section 1299A — Application for registration as authorised audit company
(1) A company may apply to ASIC for registration as an authorised audit company. (2) An application under this section: (a) must contain such information as is prescribed in the regulations; and (b)…
Section 1299B — Eligibility for registration as an authorised audit company
A company is eligible to be registered as an authorised audit company if and only if: (a) each of the directors of the company: (i) is a registered company auditor; and (ii) is not disqualified from…
Section 1299C — Registration as authorised audit company
(1) ASIC must grant the application and register the company as an authorised audit company if the company is eligible to be registered as an authorised audit company. Otherwise ASIC must refuse the…
Section 1299D — Registration may be subject to conditions
(1) The company’s registration as an authorised audit company is subject to: (a) the provisions of this Part; and (b) the conditions or restrictions specified in the regulations; and (c) any other…
Section 1299E — Register of authorised audit companies
(1) ASIC must keep a Register of Authorised Audit Companies for the purposes of this Act. (2) In relation to each authorised audit company, ASIC must enter in the Register: (a) the name of the…
Section 1299F — Notification of certain matters
(1) An authorised audit company must notify ASIC if a condition or restriction to which the company’s registration is subject is contravened. (2) The notice under subsection (1) must: (a) set out…
Section 1299G — Annual statements by authorised audit company
(1) A company that is an authorised audit company must, within one month after the end of: (a) the period of 12 months beginning on the day on which the company became registered as an authorised…
Section 1299H — Cancellation at request of registered person
(1) ASIC may cancel a company’s registration as an authorised audit company if the company requests ASIC to cancel the registration. (2) ASIC must take the steps necessary to cancel the registration…
Section 1299I — Cancellation or suspension in other cases
ASIC may cancel or suspend a company’s registration as an authorised audit company if: (a) the company ceases to be eligible to be registered as an authorised audit company; or (b) the company fails…
Section 1299J — Notice of cancellation or suspension
(1) If ASIC decides to cancel or suspend a company’s registration as an authorised audit company under section 1299I, ASIC must, within 14 days after the decision: (a) give to the company written…
Section 1299K — 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…
Section 1299L — Effect of suspension
A company whose registration as an authorised audit company is suspended is, except for the purposes of subsection 1299E(4), sections 1299F and 1299G and this Division, taken not to be registered as…
Section 1299M — Effect of cancellation
If a company’s registration as an authorised audit company is cancelled (whether under section 1299H or 1299I), each appointment of the company as auditor for a company or registered scheme for the…
Section 1300 — Inspection of books
(1) A book that is by this Act required to be available for inspection must, subject to and in accordance with this Act, be available for inspection at the place where, in accordance with this Act,…
Section 1301 — Location of books on computers
(1) This section applies if: (a) a corporation records, otherwise than in writing, matters (the stored matters) this Act requires to be contained in a book; and (b) the record of the stored matters…
Section 1303 — Court may compel compliance
If any person in contravention of this Act refuses to permit the inspection of any book or to supply a copy of any book, the Court may by order compel an immediate inspection of the book or order the…
Section 1304 — Translations of instruments
(1) Where under this Act a person is required to lodge an instrument or a certified copy of an instrument and the instrument is not written in English, the person must lodge at the same time a…
Section 1305 — Admissibility of books in evidence
(1) A book kept by a body corporate under a requirement of this Act is admissible in evidence in any proceeding and is prima facie evidence of any matter stated or recorded in the book. (2) A…
Section 1306 — Form and evidentiary value of books
(1) A book that is required by this Act to be kept or prepared may be kept or prepared: (a) by making entries in a bound or looseleaf book; or (b) by recording or storing the matters concerned by…
Section 1307 — Falsification of books
(1) An officer, former officer, employee, former employee, member or former member of a company who engages in conduct that results in the concealment, destruction, mutilation or falsification of any…
Section 1308 — False or misleading documents
Fault-based offence (1) A person commits an offence if: (a) a document: (i) is required under or for the purposes of this Act; or (ii) is lodged with or submitted to ASIC or the Registrar; and (b)…
Section 1308A — Application of Criminal Code
Subject to this Act, Chapter 2 of the Criminal Code applies to all offences against this Act.
Section 1308B — False or misleading statements about share capital
(1) A corporation must not advertise or publish: (a) a statement of the amount of its capital that is misleading; or (b) a statement in which the total of all amounts paid and unpaid on shares in the…
Section 1309 — False information etc.
(1) An officer or employee of a corporation who makes available or gives information, or authorises or permits the making available or giving of information, to: (a) a director, auditor, member,…
Section 1310 — Obstructing or hindering ASIC etc.
A person must not, without lawful excuse, obstruct or hinder ASIC, or any other person, in the performance or exercise of a function or power under this Act.
Section 1311 — General penalty provisions
(1) A person who: (a) does an act or thing that the person is forbidden to do by or under a provision of this Act; or (b) does not do an act or thing that the person is required or directed to do by…
Section 1311A — Penalty for committing an offence
(1) A person who commits an offence against this Act is punishable on conviction by a penalty not exceeding the penalty applicable to the offence. (2) If: (a) a person commits an offence in the…
Section 1311B — Penalty applicable to an offence committed by an individual
(1) The penalty applicable to an offence committed by an individual is: (a) for an offence for which a fine is the only penalty specified—the fine specified; and (b) for an offence for which a term…
Section 1311C — Penalty applicable to an offence committed by a body corporate
(1) The penalty applicable to an offence committed by a body corporate is: (a) for an offence for which a fine is the only penalty specified—the fine specified multiplied by 10; and (b) for an…
Section 1311D — Meaning of benefit derived and detriment avoided—offence
The benefit derived and detriment avoided because of an offence is the sum of: (a) the total value of all benefits obtained by one or more persons that are reasonably attributable to the commission…
Section 1311E — Where is the penalty for an offence specified?
(1) The penalty specified for an offence is: (a) if a penalty, pecuniary or otherwise, is specified in Schedule 3 for the provision under which the offence is created, or a provision or provisions in…
Section 1311F — If no penalty is specified
If no penalty is specified for an offence: (a) the offence is an offence of strict liability; and (b) 20 penalty units is taken to be the penalty specified for the offence.
Section 1313A — Offences committed partly in and partly out of the jurisdiction
Where: (a) a person does or omits to do an act outside this jurisdiction; and (b) if that person had done or omitted to do that act in this jurisdiction, the person would, by reason of also having…