Building Regulations 1993

(1) A net assets certificate is a document, prepared and certified by an accountant, specifying the net assets held by a builder as mentioned in regulation 39B(1).

(a) is to do so in accordance with the Australian Accounting Standards; and

(b) is not to use financial information relating to a period earlier than 12 months before the date of the certificate; and

(c) is to take into account the matters mentioned in regulation 39B(3) to (5).

accountant means one of the following:

(a) a member of the Institute of Chartered Accountants in Australia who holds a current Certificate of Public Practice issued by the Institute;

(b) a member of the CPA Australia who holds a current Public Practice Certificate in accordance with the by-laws of CPA Australia;

(ba) a member of the Institute of Public Accountants ACN 004 130 643 who holds a current Certificate of Professional Practice issued by the Institute;

(c) a person who holds a current Public Practising Certificate issued by the Association of Taxation and Management Accountants;

(e) a person registered as an auditor under the Corporations Act 2001.

Australian Accounting Standards means the current Australian Accounting Standards as published by the Australian Accounting Standards Board.