CORPORATIONS ACT 2001
The responsible entity of a registered scheme may, with ASIC's consent, remove the auditor of the scheme from office.331AC(2) [ Resignation]
(a) the auditor:
(i) has, by notice in writing given to ASIC, applied for consent to the resignation and stated the reasons for the application; and
(ii) has, at or about the same time as giving the notice to ASIC, given the responsible entity notice in writing of the application to ASIC; and
(b) ASIC has given its consent. 331AC(3) [ Notification]
As soon as practicable after ASIC receives a notice from an auditor under subsection (2), ASIC must notify the auditor, and the responsible entity of the registered scheme, whether it consents to the resignation.331AC(4) [ Privileged statement by auditor]
(a) is not admissible in evidence in any civil or criminal proceedings against the auditor; and
(b) must not be made the ground of a prosecution, action or suit against the auditor.
A certificate by the ASIC that the statement was made in the application or in answer to the inquiry by ASIC is conclusive evidence that the statement was so made.331AC(5) [ When resignation takes effect]
(a) on the day (if any) specified for the purpose in the notice of resignation; or
(b) on the day on which ASIC gives its consent to the resignation; or
(c) on the day (if any) fixed by ASIC for the purpose;
whichever occurs last.331AC(6) [ Firm unable to act as auditor]
If, on the retirement or withdrawal of a member of a firm, the firm will no longer be capable of acting as auditor of a registered scheme because of subparagraph 324BB(1) (b)(i) or (2) (b)(i), the member is (if not disqualified from acting as auditor of the scheme) taken to be the auditor of the scheme until he or she obtains the consent of ASIC to his or her retirement or withdrawal.
(a) the removal from office of an auditor of a registered scheme; or
(b) the receipt of a notice of resignation from an auditor of a registered scheme;
the responsible entity must lodge with ASIC a notice of the removal or resignation in the prescribed form.