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 A - Appointment of registered scheme auditors  

SECTION 331AAB   REGISTERED SCHEME AUDITOR (APPOINTMENT TO FILL VACANCY)  

331AAB(1)   [ Time limit]  

If:

(a) a vacancy occurs in the office of auditor of a registered scheme; and

(b) there is no surviving or continuing auditor of the scheme;

the responsible entity must, within 1 month after the vacancy occurs, appoint an auditor to fill the vacancy.

331AAB(2)   [ Compliance]  

A director of the responsible entity of a registered scheme must take all reasonable steps to secure compliance with subsection (1).