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reg 13

Interpretation of Part 3

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Part 3Trust accounts and indemnity fund
Division 1Preliminary

13 Interpretation of Part 3

For the purposes of paragraph (b) of the definition of

auditor in section 12 of the Act, a person meets the prescribed requirements if the person—

(a)

holds a degree in commerce, accounting, business studies or a related field from an Australian university or from another university approved by the Commissioner; and

(b)

is a member of—

(i)

Chartered Accountants Australia and New Zealand; or

(ii)

CPA Australia; and

(c)

meets the requirements of a body referred to in paragraph (b) to practise as a public accountant;

and

(d)

has been continuously engaged for at least 3 years in practice as a public accountant in this State (whether or not as an employee of a public accountant).

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