Corporations Act 2001

CHAPTER 2M - FINANCIAL REPORTS, SUSTAINABILITY REPORTS AND AUDIT  

PART 2M.4 - APPOINTMENT AND REMOVAL OF AUDITORS  

Division 7 - Appointment, removal and fees of auditors for registered schemes  

Note: Section 1232R applies a modified version of this Division in relation to a retail CCIV.

Subdivision B - 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.