Corporations Act 2001

CHAPTER 2M - FINANCIAL REPORTS AND AUDIT  

PART 2M.4 - APPOINTMENT AND REMOVAL OF AUDITORS  

Division 8 - Appointment, removal and fees of auditors of registrable superannuation entities  

Subdivision A - Appointment of registrable superannuation entity auditors  

SECTION 331AF   REGISTRABLE SUPERANNUATION ENTITY AUDITOR (INITIAL APPOINTMENT OF AUDITOR)  

331AF(1)    
If a registrable superannuation entity is registered under section 29M of the Superannuation Industry (Supervision) Act 1993 after the commencement of this section, the RSE licensee must appoint an auditor of the entity for the purposes of this Chapter within 1 month after the day on which the entity is registered under that section.

331AF(2)    
If:

(a)    a registrable superannuation entity was registered under section 29M of the Superannuation Industry (Supervision) Act 1993 immediately before the commencement of this section; and

(b)    immediately before the commencement of this section, an individual held an appointment as an auditor of the entity for the purposes of the RSE licensee law;

then:

(c)    the RSE licensee is taken to have appointed the individual as an auditor of the entity for the purposes of this Chapter; and

(d)    that appointment takes effect at the commencement of this section.

331AF(3)    
A director of the registrable superannuation entity must take all reasonable steps to secure compliance with subsection (1) .