Companies Auditors and Liquidators Disciplinary Board Act 1982 (TAS)

Companies Auditors and Liquidators Disciplinary Board Act 1982

An Act to provide for the constitution of a board to be known as the Companies Auditors and Liquidators Disciplinary Board, to prescribe the powers of the Board, and to provide for related matters

[Royal Assent 30 June 1982]

Be it enacted by His Excellency the Governor of Tasmania, by and with the advice and consent of the Legislative Council and House of Assembly, in Parliament assembled, as follows:

1Short titleThis Act may be cited as the Companies Auditors and Liquidators Disciplinary Board Act 1982 . 2CommencementThis Act shall commence on the same day as that fixed under section 2 (2) of the Companies (Application of Laws) Act 1982 . 3InterpretationIn this Act, except in so far as the context or subject-matter otherwise indicates or requires – Board means the Companies Auditors and Liquidators Disciplinary Board constituted by section 4 ; the Code means the Companies (Tasmania) Code ; the regulations means regulations made and in force under this Act. 4Constitution of Board (1) There is constituted by this Act a board to be known as the "Companies Auditors and Liquidators Disciplinary Board". (2) The Board shall consist of 3 members, of whom – (a) [Section 4 Subsection (2) amended by No. 66 of 2007, Sched. 1, Applied:31 Dec 2008] one shall be an Australian lawyer who has practised as an Australian legal practitioner for not less than 5 years; (b) subject to subsection (3) , one shall be selected from a panel of 3 persons nominated by the Tasmanian State Council of the Institute of Chartered Accountants in Australia; and (c) subject to subsection (3) , one shall be selected from a panel of 3 persons nominated by the Tasmanian Division of the Australian Society of Accountants. (3)  If, after being requested to do so by the Minister, the Tasmanian State Council of the Institute of Chartered Accountants in Australia or the Tasmanian Division of the Australian Society of Accountants fails to nominate a panel of persons in accordance with subsection (2) within such period as may be specified in the request, the Minister may make the nomination in its place. (4) The members of the Board shall be appointed by the Governor. (5)  The member referred to in subsection (2) (a) shall be the Chairman of the Board. (6)  Schedule 1 has effect with respect to the Board. 5Deputies of members (1) The Governor may appoint a person to be a deputy of any member of the Board. (2)  [Section 5 Subsection (2) amended by No. 66 of 2007, Sched. 1, Applied:31 Dec 2008] A person who is appointed to be the deputy of the Chairman of the Board shall be an Australian lawyer who has practised as an Australian legal practitioner for not less than 5 years. (3) A person who is appointed to be the deputy of a member of the Board referred to in section 4 (2) (b) or (c) shall be selected from a panel of 3 persons nominated by the body which nominated that member. (4)  If, after being requested to do so by the Minister, the Tasmanian State Council of the Institute of Chartered Accountants in Australia or the Tasmanian Division of the Australian Society of Accountants fails to nominate a panel of persons in accordance with subsection (3) within such period as may be specified in the request, the Minister may make the nomination in its place. (5) In the absence of a member of the Board, or if the office of a member of the Board is vacant, the deputy for that member is entitled to attend the proceedings of the Board in the place of that member, and, while so attending, shall be deemed to be a member of the Board. 6Powers of Board [Section 6 Amended by No. 51 of 1985, s. 4 and Sched. 2, Pt . II ]The Board has the powers that are conferred on the Companies Auditors and Liquidators Disciplinary Board by Subdivision B of Division 2 of Part II of the Code . 7Secretary to the Board [Section 7 Substituted by No. 29 of 1984, s. 3 and Sched. 1 ] (1)  [Section 7 Subsection (1) amended by No. 86 of 2000, Sched. 1, Applied:01 May 2001] [Section 7 Subsection (1) amended by No. 5 of 1990, s. 3 and Sched. 1 ]The Board may, with the approval of the Secretary of the Department appoint a State Service officer or a State Service employee employed in that Department to be Secretary to the Board, and that employee may hold that office in conjunction with State Service employment. (2) The Secretary to the Board shall perform such functions as may be prescribed in the regulations or as the Board may direct. (3)  [Section 7 Subsection (3) amended by No. 86 of 2000, Sched. 1, Applied:01 May 2001] The Board shall pay to the Public Account such sum as may be determined by the Treasurer for the service of a State Service officer or State Service employee, appointed under subsection (1) , and the Treasurer may reimburse that sum to the Agency in which the employee is employed. 8Proceedings of Board Schedule 2 has effect with respect to the procedure to be followed by the Board when dealing with a matter arising before it under the Code . 9RegulationsThe Governor may make regulations for the purposes of this Act. 10Savings and transitional provisions (1) A person who, immediately before the commencement of this Act, was a member of the Companies Auditors Board constituted under the Companies Act 1962 shall be deemed to be a member of the Companies Auditors and Liquidators Disciplinary Board constituted by this Act and to have been appointed to hold office for the period expiring on the date on which the period for which he was appointed under the Companies Act 1962 would have expired. (2) A person who, immediately before the commencement of this Act, was the deputy of a member of the Companies Auditors Board constituted under the Companies Act 1962 shall be deemed to be the deputy of that member of the Companies Auditors and Liquidators Disciplinary Board constituted under this Act and to have been appointed to hold office for the period expiring on the date on which the period for which that member was appointed under the Companies Act 1962 would have expired. (3)  Notwithstanding the repeal of the Companies Act 1962 by the Companies (Application of Laws) Act 1982 , the Companies Auditors Board established by the Companies Act 1962 continues in existence for such period as is necessary for that Board to complete any proceedings or business that it had commenced but not completed before the repeal of the Companies Act 1962 , and that Board has, for the purposes of completing that proceeding or business, all the powers that it would have had if that Act had not been repealed. Schedule 1Provisions Relating to Members and Deputy Members of the Board

Section 4

1.   Term of office of members and deputy members (1)A member of the Board shall, subject to this Schedule and section 10 , hold office for such period, not exceeding 3 years, as is specified in the instrument of his appointment, and is, if otherwise qualified, eligible to become a member again at or after the expiration of his previous term of office. (2)A deputy for a member shall, subject to this Schedule and section 10 , hold office as deputy member for the remainder of the term for which the member was appointed. 2.   Remuneration of members and deputy members (1)A member and a deputy member of the Board are entitled to be paid such remuneration (including travelling and subsistence allowances) as the Governor may from time to time determine in respect of them. (2)The office of a member or a deputy member of the Board shall not, for the purposes of any other Act, be regarded as being an office or place of profit under the Crown. 3.   Validity of appointment and acts of deputy members Neither the appointment of a deputy member of the Board, nor any act done by him as such, shall be questioned on the ground that the occasion for his acting as a member of the Board had not arisen or had ceased. 4.   Vacancies: members of Board (1)The office of a member of the Board is vacated – (a) when the member dies; (b) if the member becomes an insolvent under administration within the meaning of the Companies (Tasmanian) Code ; (c) [Schedule 1 Amended by No. 32 of 1996, Sched. 1, Applied:01 Nov 1999] if the member becomes unable to perform competently the duties of the office; (d) if the member is convicted in Tasmania of a crime or an offence which is punishable by imprisonment for 12 months or more or if he is convicted elsewhere than in Tasmania of a crime or an offence which, if committed in Tasmania, would be a crime or an offence so punishable; (e) if the member is found guilty of an offence involving fraud or dishonesty; (f) if the member applies to resign his office by writing under his hand addressed to the Governor and the Governor accepts the resignation; (g) if the member is removed from office under subclause (2) ; or (h) if, without leave of the Board, the member is absent from 3 consecutive meetings of the Board. (2)The Governor may remove a member of the Board from office for misbehaviour, failure to carry out his duty, or incompetence. 5.   Vacancies: deputy members of Board (1)Where a person is holding office as a deputy member of the Board, the office of that deputy member is vacated – (a) when the deputy member dies; (b) if the appointment of the deputy member is terminated by the Governor under subclause (2) ; or (c) if the deputy member resigns his office by writing under his hand addressed to the Governor and the Governor accepts the resignation – and section 5 applies for the purpose of filling the vacancy. (2)The Governor may at any time terminate the appointment of a deputy member of the Board. 6.   Filling of vacancies On the occurrence of a vacancy in the office of a member or a deputy member of the Board, the office shall be filled as if it had become vacant by reason of the expiry of the term of office of the previous occupant. Schedule 2Proceedings of Board

Section 8

1.   Chairman to preside (1)The Chairman of the Board shall preside at all proceedings of the Board atwhich he is present. (2)If for any reason the Chairman is or will be unable to attend any proceeding of the Board, the deputy for the Chairman of the Board shall, if available, act as Chairman of the Board in his place for the purpose of that proceeding and, while so acting, shall be deemed to be Chairman of the Board. 2.   Quorum for hearing and determining matters before Board (1)Except as provided in subclause (2) , the Board does not have jurisdiction to hear or determine a matter unless 3 persons able to constitute the Board are present. (2)A decision of the Board, and the reasons for the decision, may be announced by a member of the Board sitting alone. 3.   Decision of Board The decision of the majority at any properly constituted proceeding of the Board shall be deemed to be the decision of the Board. 4.   Proceeding to be regulated fairly and reasonably Subject to the Code and to this Schedule, the Board may regulate its proceedings in such manner as appears to it to be fair and reasonable.