This note is not part of the regulations, but is intended to indicate their general effect.
Sections 25 and 26 of the Act make provision for authorising the registration of corporate audit firms under Part 2 of the Act if certain requirements, including prescribed requirements, are met.
The prescribed requirements relate to the persons who control voting rights in the corporate audit firm, the persons who are the directors of the corporate audit firm, and the professional indemnity insurance held by the corporate audit firm.
Regulatory impact statement
The Ministry of Business, Innovation, and Employment produced a regulatory impact statement to help inform the decisions taken by the Government relating to the contents of this instrument.
Date of notification in Gazette: 28 May 2015.
These regulations are administered by the Ministry of Business, Innovation, and Employment.