Corporations Act 2001

CHAPTER 2M - FINANCIAL REPORTS AND AUDIT  

PART 2M.4 - APPOINTMENT AND REMOVAL OF AUDITORS  

Division 6 - Appointment, removal and fees of auditors for companies  

Note: This Division does not apply in relation to a CCIV. Instead, section 1232R applies a modified version of Division 7 to a retail CCIV.

Subdivision A - Appointment of company auditors  

SECTION 327D   APPOINTMENT TO REPLACE AUDITOR REMOVED FROM OFFICE  

327D(1)   [ Application]  

This section deals with the situation in which an auditor of a company is removed from office at a general meeting in accordance with section 329 .

327D(2)   [ Special resolution to appoint]  

The company may at that general meeting (without adjournment), by special resolution immediately appoint an individual, firm or company as auditor of the company if a copy of the notice of nomination has been sent to the individual, firm or company under subsection 328B(3) .

327D(3)   [ Ordinary resolution to appoint]  

If a special resolution under subsection (2):

(a) is not passed; or

(b) could not be passed merely because a copy of the notice of nomination has not been sent to an individual, firm or company under subsection 328B(3) ;

the general meeting may be adjourned and the company may, at the adjourned meeting, by ordinary resolution appoint an individual, firm or company as auditor of the company if:

(c) a member of the company gives the company notice of the nomination of the individual, firm or company for appointment as auditor; and

(d) the company receives the notice at least 14 clear days before the day to which the meeting is adjourned.

327D(4)   [ Adjourned meeting]  

The day to which the meeting is adjourned must be:

(a) not earlier than 20 days after the day of the meeting; and

(b) not later than 30 days after the day of the meeting.

327D(5)   [ Tenure]  

Subject to this Part, an auditor appointed under subsection (2) or (3) holds office until the company's next AGM.