Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.8 - OTHER PROVISIONS RELATING TO CONDUCT ETC. CONNECTED WITH FINANCIAL PRODUCTS AND FINANCIAL SERVICES, OTHER THAN FINANCIAL PRODUCT DISCLOSURE  

Division 6 - Financial records, statements and audit  

Subdivision D - Appointment etc. of auditors  

SECTION 990D   INELIGIBLE PERSON OR FIRM MUST NOT CONSENT TO ACT OR DISQUALIFY THEMSELVES ETC.  

990D(1)   [ Actions whilst ineligible]  

A person or firm, while ineligible to act as auditor of the licensee, must not:


(a) consent to be appointed as auditor of the licensee; or


(b) act as auditor of the licensee; or


(c) prepare a report that an auditor of the licensee is to prepare under this Part.

Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).

990D(2)   [ Disqualification]  

A person must not:


(a) if the person has been appointed auditor of the licensee - disqualify himself or herself, while the appointment continues, from acting as auditor of the licensee; or


(b) if the person is a member of a firm that has been appointed auditor of the licensee - disqualify the firm, while the appointment continues, from acting as auditor of the licensee.

Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).


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