THE CORPORATIONS LAW

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

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History

Chapter 2M inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).

PART 2M.3 - FINANCIAL REPORTING

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History

Part 2M.3 inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).

Division 3 - Audit and auditor's report

SECTION 311   REPORTING TO ASIC  

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311     The auditor conducting an audit or review must, as soon as possible, notify ASIC in writing if the auditor:

(a)  has reasonable grounds to suspect that a contravention of this Law has occurred; and

(b)  believes that the contravention has not been or will not be adequately dealt with by commenting on it in the auditor's report or bringing it to the attention of the directors.

Note:

Section 1289 gives an auditor qualified privilege for a notification to ASIC under this section.

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History

S 311 amended by No 54 of 1998, Sch 5, Pt 2 (effective 1 July 1998).

S 311 substituted by No 61 of 1998, Sch 1 (effective 1 July 1998).

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