Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.8 - OTHER PROVISIONS RELATING TO CONDUCT ETC. CONNECTED WITH FINANCIAL PRODUCTS AND FINANCIAL SERVICES, OTHER THAN FINANCIAL PRODUCT DISCLOSURE  

Division 6 - Financial records, statements and audit  

Subdivision D - Appointment etc. of auditors  

SECTION 990G   RESIGNATION OF AUDITORS - REQUIREMENTS FOR RESIGNATION  

990G(1)    
An auditor of the licensee may, by written notice given to the licensee, resign as auditor of the licensee if:

(a)    the auditor has, by written notice given to ASIC, applied for consent to the resignation and, at or about the same time as the auditor gave notice to ASIC, gave written notice of the application to the licensee; and

(b)    ASIC has consented and the auditor has received notice of ASIC ' s consent.

990G(2)    
ASIC must, as soon as practicable after receiving an application from an auditor under subsection (1), notify the auditor and the licensee whether it consents to the resignation.

990G(3)    
A statement by an auditor in an application under subsection (1), or in answer to an inquiry by ASIC relating to the reasons for the application:

(a)    is not admissible in evidence in any civil or criminal proceedings in a court against the auditor other than proceedings for a contravention of section 1308 ; and

(b)    may not be made the ground of a prosecution (other than a prosecution for a contravention of section 1308 ), action or suit against the auditor.

990G(4)    
A certificate by ASIC that a statement was made in an application under subsection (1), or in answer to an inquiry by ASIC relating to the reasons for such an application, is conclusive evidence that the statement was so made.