Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The amendments made by items 1 to 5 of Schedule 2 to the amending Act do not apply until after the transition period.
(2) During the transition period:
(a) a person holding an appointment as a member of the Companies Auditors and Liquidators Disciplinary Board under paragraph 203(1)(c) or (d) of the old Act immediately before the Schedule 2 commencement continues to hold that appointment on and after that commencement for the remainder of the term of the person's appointment as if those amendments had not been made; and
(b) paragraph (a) does not prevent the Minister terminating the appointment under section 207 or the person from resigning under section 206; and
(c) there are to be no more than 6 accounting members of the Companies Auditors and Liquidators Disciplinary Board; and
(d) any member appointed after the Schedule 2 commencement:
(i) must be selected by the Minister; and
(ii) must be eligible to be appointed under subsection 203(1B) as inserted by item 5 of Schedule 2 to the amending Act; and
(e) accounting member means:
(i) a member appointed under paragraph (d); or
(ii) a member appointed under paragraph 203(1)(c) or (d) of the old Act.
(3) After the transition period, accounting member is taken to include a member appointed under paragraph (2)(d).