Corporations Act 2001

CHAPTER 2M - FINANCIAL REPORTS AND AUDIT  

PART 2M.4 - APPOINTMENT AND REMOVAL OF AUDITORS  

Division 6 - Appointment, removal and fees of auditors for companies  

Note: This Division does not apply in relation to a CCIV. Instead, section 1232R applies a modified version of Division 7 to a retail CCIV.

Subdivision A - Appointment of company auditors  

SECTION 328D   PUBLIC COMPANY AUDITOR (APPOINTMENT OF AUDITOR WHEN $3 MILLION RAISED USING CROWD-SOURCED FUNDING)  

328D(1)    

If the directors of a public company that is covered under section 738ZI become aware that the company has raised $3 million or more from all CSF offers, the directors of the company must appoint an auditor of the company within 1 month after becoming so aware, unless the company at a general meeting has appointed an auditor.

328D(2)    
An auditor appointed under subsection (1) holds office in accordance with section 328E .

328D(3)    
A director of a company must take all reasonable steps to comply with, or to secure compliance with, subsection (1).