Corporations Act 2001
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteCCH note - modifying legislative instruments: The application of Pt 7.8 is affected by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (Investor Directed Portfolio Services) Instrument 2023/669 (Div 8 only) (as amended by ASIC Corporations (Amendment) Instrument 2024/554).
For legislative instruments or class orders before 1 January 2022 that affect the application of Pt 7.8, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
CCH Note: Division 6 is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
CCH Note: Subdivision D is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
CCH Note: Section 990K is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
If an auditor, in the performance of duties as auditor of the licensee, becomes aware of a matter referred to in subsection (2) , the auditor must, within 7 days after becoming aware of the matter, lodge a written report on the matter with ASIC in a prescribed form and send a copy of the report to the licensee, and to each licensed market (if any) and each licensed CS facility (if any) in which the licensee is a participant.
Note: Failure to comply with this section is an offence (see subsection 1311(1) ).
990K(2)
A report must be given in relation to any matter that, in the opinion of the auditor: (a) has adversely affected, is adversely affecting or may adversely affect the ability of the licensee to meet the licensee ' s obligations as a licensee; or (b) constitutes or may constitute a contravention of:
(i) a provision of Subdivision A or B of Division 2 (or a provision of regulations made for the purposes of such a provision); or
(ii) a provision of Division 3 (or a provision of regulations made for the purposes of such a provision); or
(iii) a provision of Subdivision B or C of this Division (or a provision of regulations made for the purposes of such a provision); or
(c) constitutes an attempt to unduly influence, coerce, manipulate or mislead the auditor in the conduct of the audit.
(iv) a condition of the licensee ' s licence; or
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