Native Title (Representative Bodies — Audit of Financial Statements) Regulations 2005 (Cth)

Native Title (Representative Bodies — Audit of Financial Statements) Regulations 2005¹

Select Legislative Instrument 2005 No. 288

I, PHILIP MICHAEL JEFFERY, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Native Title Act 1993.

Dated 1 December 2005

P. M. JEFFERY

Governor-General

By His Excellency’s Command

AMANDA VANSTONE

Minister for Immigration and Multicultural and Indigenous Affairs

Name of Regulations

These Regulations are the Native Title (Representative Bodies — Audit of Financial Statements) Regulations 2005.

Commencement

These Regulations are taken to have commenced on 1 July 2005.

Definitions

In these Regulations:

Act means the Native Title Act 1993.

executive officer:

(a)in relation to an representative body:

(i)means an executive officer within the meaning of section 201A of the Act; and

(ii)without limiting subparagraph (i), includes the Chief Financial Officer of the representative body; and

(b)in relation to a related body corporate — means:

(i)a director of the body corporate; or

(ii)any other person who is concerned in, or takes part in, the management of the body corporate at a senior level.

related body corporate has the same meaning as in the Corporations Act 2001.

Qualifications of auditor

For subsection 203DC (5) of the Act, the following qualifications are prescribed for a person for appointment to audit the financial statements of a representative body:

(a)for an individual — the person must be a registered company auditor within the meaning of the Corporations Act 2001;

(b)for a body corporate — the person must be an authorised audit company within the meaning of the Corporations Act 2001;

(c)the person must not be a member, employee, or executive officer of:

(i)the representative body; or

(ii)a related body corporate.

Note

All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See