<strong>Date of Effect:</strong> 21/08/2023<br/><strong>Reason:</strong> 40-5(1)(b) individual no longer meets registration requirements[POPUP_FOR_DETAILS]<br/><strong>Code breach(es):</strong> <ul><li>30-10(2) - You must comply with the taxation laws in the conduct of your personal affairs</li><li>30-10(13) - You must maintain professional indemnity insurance that meets the Board's requirements</li></ul><br/><strong>Registration requirement not met:</strong> <ul><li>20-5(1)(c) Individual has ceased to meet registration requirement that they maintain professional indemnity insurance that meets the Board's requirements</li></ul><br/><strong>Explanation:</strong> On 29 June 2023, after completing an investigation, the Tax Practitioners Board (TPB) terminated the tax agent registration of Mr Fadi Zein. The TPB found that Mr Zein breached subsections 30-10(2) and 30-10(13) of the Code of Professional Conduct (the Code). The TPB also determined he was no longer eligible for registration, as he ceased to meet the tax practitioner registration requirement that he maintain professional indemnity insurance (PII) that meets the Board’s requirements.<br>The TPB found that Mr Zein breached the Code by:<br>1. failing to notify the Board in writing that he had ceased to hold PII that meets the Board’s requirements within 30 days of his PII cover expiring<br>2. failing to maintain PII that meets the Board’s requirements.<br>Accordingly, the TPB decided to terminate Mr Zein’s tax agent registration in accordance with subparagraph 60-125(2)(b)(ii) and paragraph 40-5(1)(b) of the TASA.<br>