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CORPORATIONS ACT 2001 - SECT 921R

Notices to Tax Practitioners Board about qualified tax relevant providers who are registered tax agents

  (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  (b)   an instrument mentioned in that notice is subsequently varied, revoked or withdrawn.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.



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