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CORPORATIONS ACT 2001

CHAPTER 2G - MEETINGS  

PART 2G.2 - MEETINGS OF MEMBERS OF COMPANIES  

Division 8 - AGMs of public companies  

SECTION 250RA  AUDITOR REQUIRED TO ATTEND LISTED COMPANY'S AGM  

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250RA(1)  Contravention by individual auditor.  


If a listed company's auditor for a financial year is an individual auditor, the auditor contravenes this subsection if:


(a) the auditor does not attend the company's AGM at which the audit report for that financial year is considered; and


(b) the auditor does not arrange to be represented, at that AGM, by a person who:


(i) is a suitably qualified member of the audit team that conducted the audit; and

(ii) is in a position to answer questions about the audit.

250RA(2)  [Strict liability offence]  


An offence based on subsection (1) is an offence of strict liability.

Note: For strict liability, see section 6.1 of the Criminal Code.

250RA(3)  Contravention by lead auditor.  


A person contravenes this subsection if:


(a) a listed company's auditor for a financial year is an audit firm or an audit company; and


(b) the person is the lead auditor for the audit; and


(c) the person is not represented, at the AGM at which the audit report for that financial year is considered, by a person who:


(i) is a suitably qualified member of the audit team that conducted the audit; and

(ii) is in a position to answer questions about the audit.

250RA(4)  [Strict liability offence]  


An offence based on subsection (3) is an offence of strict liability.

Note: For strict liability, see section 6.1 of the Criminal Code.


 



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