CCH Note:
Part 13 of the
Corporations Act 1989, inserted
by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as
follows:
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW
82
The Corporations Law is as follows:...
CHAPTER 2M - FINANCIAL REPORTS AND AUDIT
History
Chapter 2M inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).
PART 2M.4 - APPOINTMENT AND REMOVAL OF AUDITORS
History
Part 2M.4 heading substituted by 156 of 1999, Sch 8 (effective 1 July 1998).
Part 2M.4 inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).
Division 2 - Registered schemes
History
Div 2 heading substituted for Div 1A heading by No 156 of 1999, Sch 8 (effective 1 July 1998).
Div 1A inserted by No 62 of 1998, Sch 2, Pt 1 (effective 1 July 1998).
SECTION 331AD
EFFECT OF WINDING UP ON OFFICE OF AUDITOR
331AD
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.
History
S 331AD amended by No 156 of 1999, Sch 3, Pt 9 (effective 13 March 2000).
S 331AD inserted by No 62 of 1998, Sch 2, Pt 1 (effective 1 July 1998).
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