Companies Auditors Disciplinary Board (Deputy Chairperson) Appointment (No. 1) 2022

Overview

The Companies Auditors Disciplinary Board (Deputy Chairperson) Appointment (No. 1) 2022I, enacted in 2022, was introduced to address the need for an experienced and qualified individual to fill the position of Deputy Chairperson of the Companies Auditors Disciplinary Board. This instrument was issued under section 203 of the Australian Securities and Investments Commission Act 2001 by Stephen Jones, the Assistant Treasurer and Minister for Financial Services, following his satisfaction that Inge Kindermann is eligible for the role as per subsection 203(2) of that Act. The policy objective of this appointment is to ensure that the Companies Auditors Disciplinary Board is adequately staffed with capable individuals to effectively carry out its functions and responsibilities in the financial services sector. The appointment of Inge Kindermann as Deputy Chairperson is for a part-time basis and will last for a period of three years, commencing the day after the instrument is registered on the Federal Register of Legislation.

Scope and Application

The Companies Auditors Disciplinary Board (Deputy Chairperson) Appointment (No. 1) 2022 instrument appoints Inge Kindermann as the Deputy Chairperson of the Companies Auditors Disciplinary Board (CADB), operating on a part-time basis for a period of three years. This appointment is made under the authority vested in the Assistant Treasurer and Minister for Financial Services, Stephen Jones, pursuant to section 203 of the Australian Securities and Investments Commission Act 2001. This Act applies to the conduct and regulatory oversight of auditors and financial reporting within Australia, and Inge Kindermann's eligibility for this role is confirmed under subsection 203(2) of the Act. The instrument’s scope is limited to the specific appointment and its terms, with no broader jurisdictional or geographical implications outside the Commonwealth. The instrument does not specify any exclusions, exemptions, or thresholds beyond the eligibility criteria set out in the Act itself.

Key Provisions

The Companies Auditors Disciplinary Board (Deputy Chairperson) Appointment (No. 1) 2022I is a legislative instrument under the Australian Securities and Investments Commission Act 2001. It appoints Inge Kindermann as the Deputy Chairperson of the Companies Auditors Disciplinary Board (section 1). This appointment is made on a part-time basis and is valid for a period of three years, commencing the day after the instrument is registered on the Federal Register of Legislation (section 1). The appointment is made by Stephen Jones, Assistant Treasurer and Minister for Financial Services, who is satisfied that Ms. Kindermann is eligible under subsection 203(2) of the Act (section 1). The primary obligation imposed by this instrument is the appointment of Inge Kindermann as Deputy Chairperson of the Companies Auditors Disciplinary Board. This appointment is for a specific term and on a part-time basis, ensuring that Ms. Kindermann fulfils her duties within the stipulated timeframe. The instrument also implicitly requires adherence to the eligibility criteria outlined in subsection 203(2) of the Australian Securities and Investments Commission Act 2001. Failure to comply with the requirements of this instrument could result in legal consequences. However, the specific offences, penalties, or civil/criminal consequences for breach are not explicitly stated within the instrument itself. It is likely that any breaches would be subject to the general provisions of the Australian Securities and Investments Commission Act 2001, which may include penalties for non-compliance with statutory obligations. The exact penalties would depend on the nature and severity of the breach and would be determined in accordance with the relevant legal frameworks.