Compliance audits

In force

(1)

The other party to a compliance agreement must, unless the other party has a reasonable excuse, have a compliance audit of the other party’s business conducted—

(a)

either—

(i)

within 6 months after the other party enters into the compliance agreement; and

(ii)

after the first compliance audit mentioned in paragraph (a)(i), at intervals of no more than 6 months; or

(b)

at the intervals stated in the compliance agreement.

Maximum penalty—100 penalty units.

(2)

The chief executive may, in writing, require the other party to a compliance agreement to have an additional compliance audit of the other party’s business conducted within a stated reasonable period after a compliance audit if a noncompliance with the compliance agreement was identified at the compliance audit.

(3)

The other party to the compliance agreement must comply with the requirement under subsection (2) unless the other party has a reasonable excuse.Maximum penalty—100 penalty units.

This Act’s bill:Explanatory memorandum Second reading speech

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465 Compliance audits