Functions of CALDB/ Richard Albarran

This is the Board who suspended Richard Albarran from  Hall Chadwick.
Be Aware of Shonks

			Functions Applications to the Board can be made only by either the Australian Securities and Investments Commission ("ASIC") or the Australian Prudential Regulation Authority ("APRA"). Application is made for a registered auditor or registered liquidator ("Respondent") to be dealt with by the Board under section 1292. The Board categorises Applications made to it by ASIC or APRA as either administrative matters or conduct matters. This categorisation has been adopted by the Board as a procedural policy and will be reviewed from time to time. The Board has the functions and powers conferred on it by or under the Corporations Act 2001 ("the Act") (in particular sections 1292 to 1298) and the Australian Securities and Investments Commission Act 2001 ("ASIC Act") (in particular sections 203 to 223). The functions and powers of the Board in relation to an Application are performed and exercised by a Panel which conducts Hearings to determine whether a registered auditor or liquidator ("Respondent"): has failed to carry out their duties and functions adequately and properly; is not a fit and proper person to remain registered; is subject to disqualification; or is otherwise ineligible to remain registered. The Panel, if it is satisfied that some or all of the relevant contentions in an Application have been established under the Act, may make the following orders: cancel or suspend the Respondent's registration; and/or admonish or reprimand the Respondent; and/or require the Respondent to give an undertaking. When a matter has been concluded, the Panel has power to make orders dealing with the costs of the parties and the costs of the Board. In addition, if the Panel has decided to exercise the Board's powers under section 1292, then the Panel will also decide what steps it considers to be reasonable and appropriate to publicise its decision and the reasons for that decision. The Board has no statutory power to initiate or carry out investigations into the conduct of auditors or liquidators. The role of the Board is to deal with Applications made by ASIC or APRA.