THE CORPORATIONS LAW

CHAPTER 2M - FINANCIAL REPORTS AND AUDIT

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PART 2M.4 - APPOINTMENT AND REMOVAL OF AUDITORS

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Division 1 - Companies

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SECTION 328   NOMINATION OF AUDITORS  

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328(1)  [Notice of nomination by member]  

Subject to this section, a company is not entitled to appoint a person or a firm as auditor of the company at its annual general meeting, not being a meeting at which an auditor is removed from office, unless notice in writing of his, her or its nomination as auditor was given to the company by a member of the company:

(a)  before the meeting was convened; or

(b)  not less than 21 days before the meeting.

328(2)  [Appointment in contravention]  

If a company purports to appoint a person or firm as auditor of the company in contravention of subsection (1), the purported appointment is of no effect and the company and any officer of the company who is in default are each guilty of an offence.

328(3)  [Company to send out copies of notice]  

Where notice of nomination of a person or firm for appointment as auditor of a company is received by the company, whether for appointment at a meeting or an adjourned meeting referred to in subsection 327(10) or at an annual general meeting, the company shall:

(a)  not less than 7 days before the meeting; or

(b)  at the time notice of the meeting is given;

send a copy of the notice of nomination to each person or firm nominated, to each auditor of the company and to each person entitled to receive notice of general meetings of the company.

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