sec.821Grant of exemption

### sec.821 Grant of exemption The registrar may grant the exemption only if satisfied— another Act or law imposes accounting and audit obligations on the employer organisation that are an adequate substitute for the provisions from which the organisation would be exempted; and the Corporations Act , chapter 2M the Associations Incorporation Act 1981 the organisation has complied with the provisions of the other Act or law that correspond, or substantially correspond, with the provisions from which the organisation would be exempted; and if the exemption is granted—the organisation will continue to be financially accountable to its members. An exemption remains in force for the period stated in it or, if no period is stated, until it is cancelled. While an exemption is in force, each provision from which the employer organisation is exempted does not apply to the organisation. (sec.821-ssec.1) The registrar may grant the exemption only if satisfied— another Act or law imposes accounting and audit obligations on the employer organisation that are an adequate substitute for the provisions from which the organisation would be exempted; and the Corporations Act , chapter 2M the Associations Incorporation Act 1981 the organisation has complied with the provisions of the other Act or law that correspond, or substantially correspond, with the provisions from which the organisation would be exempted; and if the exemption is granted—the organisation will continue to be financially accountable to its members. (sec.821-ssec.2) An exemption remains in force for the period stated in it or, if no period is stated, until it is cancelled. (sec.821-ssec.3) While an exemption is in force, each provision from which the employer organisation is exempted does not apply to the organisation. - (a) another Act or law imposes accounting and audit obligations on the employer organisation that are an adequate substitute for the provisions from which the organisation would be exempted; and Examples of other laws that impose accounting and audit obligations— • the Corporations Act , chapter 2M • the Associations Incorporation Act 1981 - • the Corporations Act , chapter 2M - • the Associations Incorporation Act 1981 - (b) the organisation has complied with the provisions of the other Act or law that correspond, or substantially correspond, with the provisions from which the organisation would be exempted; and - (c) if the exemption is granted—the organisation will continue to be financially accountable to its members. - • the Corporations Act , chapter 2M - • the Associations Incorporation Act 1981