Corporations Act 2001
Note: This Division does not apply in relation to a CCIV. Instead, section 1232R applies a modified version of Division 7 to a retail CCIV.
View history note
Hide history noteThis section applies if:
(a) the directors of a proprietary company fail to appoint an auditor under subsection 325(2) ; or
(b) a public company fails to appoint an auditor under subsection 327D(2) or (3).
The failure is referred to as the auditor replacement failure .
327E(2)
The company must give ASIC written notice of the auditor replacement failure within the period of 7 days commencing on the day of the auditor replacement failure (the notification period ).
327E(3)
If the company gives ASIC the notice required by subsection (2), ASIC must appoint an auditor of the company as soon as practicable after receiving the notice. This subsection has effect subject to section 327G .
327E(4)
If the company does not give ASIC the notice required by subsection (2), ASIC may appoint an auditor of the company at any time:
(a) after the end of the notification period; and
(b) before ASIC receives notice of the auditor replacement failure from the company.
This subsection has effect subject to section 327G .
327E(5)
If the company:
(a) does not give ASIC the notice required by subsection (2); and
(b) gives ASIC notice of the auditor replacement failure after the end of the notification period;
ASIC must appoint an auditor of the company as soon as practicable after receiving the notice. This subsection has effect subject to section 327G .
327E(6)
Subject to this Part, an auditor appointed under this section holds office until:
(a) for a proprietary company - the company ' s next general meeting; or
(b) for a public company - the company ' s next AGM.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
