Corporations Amendment (Crowd-sourced Funding for Proprietary Companies) Act 2018 (106 of 2018)

Schedule 1   Amendments

Part 1   Main amendments

Corporations Act 2001

33   Subsection 327E(1)

Repeal the subsection, substitute:

(1) This 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 .