Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

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)    
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)    
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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