Corporations Act 2001
CHAPTER 2M
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FINANCIAL REPORTS AND AUDIT
PART 2M.4
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APPOINTMENT AND REMOVAL OF AUDITORS
Division 7
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Appointment, removal and fees of auditors for registered schemes
An auditor of a registered scheme ceases to hold office if:
(a) the scheme's constitution provides that the scheme is to be wound up at a specified time, in specified circumstances or on the happening of a specified event, and that time is reached, those circumstances occur or that event occurs; or
(b) the members pass a resolution directing the responsible entity to wind up the scheme; or
(c) the Court makes an order directing the responsible entity to wind up the scheme; or
(d) the members pass a resolution to remove the responsible entity but do not, at the same meeting, pass a resolution choosing a company to be the new responsible entity that consents to becoming the scheme's responsible entity.
Subdivision B
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Removal and resignation of registered scheme auditors
SECTION 331AD
331AD
EFFECT OF WINDING UP ON OFFICE OF AUDITOR
An auditor of a registered scheme ceases to hold office if:
(a) the scheme's constitution provides that the scheme is to be wound up at a specified time, in specified circumstances or on the happening of a specified event, and that time is reached, those circumstances occur or that event occurs; or
(b) the members pass a resolution directing the responsible entity to wind up the scheme; or
(c) the Court makes an order directing the responsible entity to wind up the scheme; or
(d) the members pass a resolution to remove the responsible entity but do not, at the same meeting, pass a resolution choosing a company to be the new responsible entity that consents to becoming the scheme's responsible entity.
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