its own expert knowledge of professional standards, CALDB is in a unique position to deal with matters without the necessity for time consuming and costly expert evidence, necessary in other tribunals or courts. The decisions of the are important in identifying and upholding professional standards and applying them to particular fact situations, and they form an important aspect of the educative function of the Board. CALDB continues to utilise its revised procedures in relation to new matters, resulting in applications being set down for the earliest appropriate hearing dates. CALDB continues to seek to minimise the reliance on expert evidence and as noted, is in a unique position to adopt this course, as it possesses specialist expertise permitting it to assess applications by reference to its own knowledge of professional standards. Details of the specific procedures adopted by CALDB in relation to applications it receives and how it conducts hearings before it are set out in Appendix 1. These procedures are governed by relevant provisions in Part 11 of the ASIC Act and Division 5 Part 9.2 of the Corporations Act. Constitution of CALDB and current Board membership Section 203 of the ASIC Act provides that the CALDB consists of the following: a Chairperson; a Deputy Chairperson; six accounting members selected by the Minister; and six business members selected by the Minister. The Chairperson and the Deputy Chairperson must each be enrolled as a barrister, as a solicitor, or as a barrister and solicitor or as a legal practitioner of the High Court, any Federal Court or the Supreme Court of a State or Territory and must have been so enrolled for a period of at least five years. Accounting members are required to be a resident of Australia and a member of a professional accounting body or any body prescribed by regulation. Business members represent the business community and have qualifications, knowledge or experience in business or commerce, the administration of companies, financial markets, financial products and services, economics or law. All appointments are made by the Minister and are parttime appointments. Appointments are for a period of no longer than three years. The appointees are eligible for reappointment.
its own expert knowledge of professional standards, CALDB is in a unique position to deal with matters without the necessity for time consuming and costly expert evidence, necessary in other tribunals or courts. The decisions of the are important in identifying and upholding professional standards and applying them to particular fact situations, and they form an important aspect of the educative function of the Board. CALDB continues to utilise its revised procedures in relation to new matters, resulting in applications being set down for the earliest appropriate hearing dates. CALDB continues to seek to minimise the reliance on expert evidence and as noted, is in a unique position to adopt this course, as it possesses specialist expertise permitting it to assess applications by reference to its own knowledge of professional standards. Details of the specific procedures adopted by CALDB in relation to applications it receives and how it conducts hearings before it are set out in Appendix 1. These procedures are governed by relevant provisions in Part 11 of the ASIC Act and Division 5 Part 9.2 of the Corporations Act. Constitution of CALDB and current Board membership Section 203 of the ASIC Act provides that the CALDB consists of the following: a Chairperson; a Deputy Chairperson; six accounting members selected by the Minister; and six business members selected by the Minister. The Chairperson and the Deputy Chairperson must each be enrolled as a barrister, as a solicitor, or as a barrister and solicitor or as a legal practitioner of the High Court, any Federal Court or the Supreme Court of a State or Territory and must have been so enrolled for a period of at least five years. Accounting members are required to be a resident of Australia and a member of a professional accounting body or any body prescribed by regulation. Business members represent the business community and have qualifications, knowledge or experience in business or commerce, the administration of companies, financial markets, financial products and services, economics or law. All appointments are made by the Minister and are parttime appointments. Appointments are for a period of no longer than three years. The appointees are eligible for reappointment.
caldb-annual-report-2014-read-only.docx