National Consumer Credit Protection Act 2009
Unless an extension is granted under subsection (3), the trust account statement and trust account audit report must be lodged with ASIC before the day that is 3 months after the end of the financial year of the credit service licensee to which they relate.
101(2) [ Time for lodgment where extension granted]If an extension is granted under subsection (3), the trust account statement and trust account audit report must be lodged with ASIC before the end of the extended period.
101(3) [ Application for approval of an extension]ASIC may, on application made:
(a) by the credit service licensee and the auditor that is to prepare the trust account audit report; and
(b) before the end of the period that would otherwise apply;
approve an extension of the period for lodging the trust account statement and trust account audit report. The extension may be of the period originally applicable or the period applicable under a previous extension.
101(4) [ Approval subject to conditions]An approval may be given subject to any conditions imposed by ASIC.
101(5) [ Must comply with conditions]If an approval is given subject to conditions, the licensee must comply with those conditions.
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