Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) ASIC must give a written notice to the Tax Practitioners Board if an action specified in subsection (2) is taken against a qualified tax relevant provider who is a registered tax agent.
(2) The following actions are specified:
(a) a Financial Services and Credit Panel making an instrument under subsection 921K(1) in relation to the qualified tax relevant provider;
(b) ASIC giving the qualified tax relevant provider a warning or reprimand under subsection 921S(1);
(c) a Financial Services and Credit Panel giving the qualified tax relevant provider a warning or reprimand under subsection 921T(1);
(d) a Financial Services and Credit Panel giving the qualified tax relevant provider an infringement notice for the alleged contravention by the qualified tax relevant provider of a restricted civil penalty provision;
(e) ASIC making an application under subsection 1317J(1) in relation to the alleged contravention by the qualified tax relevant provider of a restricted civil penalty provision;
(f) a Financial Services and Credit Panel accepting an undertaking by the qualified tax relevant provider under subsection 171E(1) of the ASIC Act.
(3) A notice under subsection (1) must include:
(a) details of the action; and
(b) if the action is a Financial Services and Credit Panel making an instrument under subsection 921K(1)--the panel's reasons for making the instrument; and
(c) if the action is ASIC giving the qualified tax relevant provider a warning or reprimand--ASIC's reasons for giving the warning or reprimand; and
(d) if the action is a Financial Services and Credit Panel giving the qualified tax relevant provider a warning or reprimand--the panel's reasons for giving the warning or reprimand.
Notice about variation etc. of certain instruments
(4) ASIC must give a written notice to the Tax Practitioners Board if:
(a) ASIC has given a notice to the Tax Practitioners Board under subsection (1); and
(b) an instrument mentioned in that notice is subsequently varied, revoked or withdrawn.
(5) A notice under subsection (4) must include details of the variation, revocation or withdrawal, as the case may be.