Corporations Act 2001

CHAPTER 2M - FINANCIAL REPORTS, SUSTAINABILITY REPORTS AND AUDIT  

PART 2M.4 - APPOINTMENT AND REMOVAL OF AUDITORS  

Division 5 - Auditor rotation for listed companies, listed registered schemes and registrable superannuation entities  

SECTION 324DAC  

324DAC   NOTIFICATIONS ABOUT APPROVAL TO EXTEND ELIGIBILITY TERM  

If the directors of a listed company, of a listed registered scheme or of a registrable superannuation entity, grant an approval under section 324DAA , the directors must, within 14 days of granting the approval:

(a)    lodge a copy of the resolution granting the approval with ASIC; and

(aa)    

if the approval was granted by the directors of a registrable superannuation entity - give a copy of the resolution to APRA; and

(b)    give a copy of the resolution to:

(i) if the individual to whom the approval relates does not act on behalf of an audit firm or company - the individual; and

(ii) if the individual to whom the approval relates acts on behalf of an audit firm or company - the audit firm or company on whose behalf the individual acts.

Note: Details of the approval, and the reasons for the approval, must be included in the directors ' report under section 300 or 300C .