Australian Capital Territory Numbered Regulations

INSURANCE LEVY REGULATIONS (NO. 30 OF 1998) - REG 5

    (1)     For the purposes of section 10 of the Act—

        (a)     the annual return required to be given by a general insurer shall be in the form set out in Schedule 2;

        (b)     an auditor of such an annual return shall be a member of 1 of the following bodies:

              (i)     the Institute of Chartered Accountants in Australia;

              (ii)     the Australian Society of Certified Practising Accountants;

              (iii)     the National Institute of Accountants; and

        (c)     the auditor's certificate required to be given in relation to that return shall be in the form set out at the foot of the form for the annual return.

    (2)     An auditor is not qualified for the purposes of section 10 of the Act in relation to the annual return of a general insurer if any of the following persons is a director, partner, officer or employee of the insurer:

        (a)     the auditor;

        (b)     any director, partner, officer or employee of a firm of auditors or accountants of which the auditor is a director, partner, officer or employee.