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 331AJ   ASIC ' S POWER TO APPOINT AUDITOR OF A REGISTRABLE SUPERANNUATION ENTITY  

331AJ(1)    
ASIC may appoint an auditor of a registrable superannuation entity for the purposes of this Chapter if:

(a)    the RSE licensee for the entity does not appoint an auditor when required by this Act to do so; and

(b)    a member of the entity applies to ASIC in writing for the appointment of an auditor under this section.

331AJ(2)    
ASIC may only appoint an individual, firm or company as auditor under subsection (1) if the individual, firm or company consents to being appointed.

331AJ(3)    
If ASIC appoints an individual, firm or company as auditor under subsection (1) , ASIC must:

(a)    notify APRA of the appointment; and

(b)    do so as soon as practicable after making the appointment.