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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    View history reference

Subdivision A - Appointment of company auditors    View history reference

SECTION 328B  NOMINATION OF AUDITOR  

 View history reference

328B(1)  

Subject to this section, a company may appoint an individual, firm or company as auditor of the company at its AGM only if a member of the company gives the company written notice of the nomination of the individual, firm or company for appointment as auditor:


(a) before the meeting was convened; or


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

This subsection does not apply if an auditor is removed from office at the AGM.

328B(2)  

If a company purports to appoint an individual, firm or company as auditor of the company in contravention of subsection (1):


(a) the purported appointment is of no effect; and


(b) the company and any officer of the company who is in default are each guilty of an offence.

Note: An officer of a company is in default if the officer is involved in the company's contravention of subsection (1) (see section 83). Section 79 defines involved.

[CCH Note: Act No 180 of 2012, s 3, Sch 7[1] contained the following application provision (which was effective 11 December 2012):

Application of amendments made by this Act

The amendments made by this Act apply in relation to an act or omission by a body corporate occurring on or after the day this Act commences.

]

328B(3)  

If a member gives a company notice of the nomination of an individual, firm or company for appointment as auditor of the company, the company must send a copy of the notice to:


(a) each individual, firm or company nominated; and


(b) each auditor of the company; and


(c) each person entitled to receive notice of general meetings of the company.

This is so whether the appointment is to be made at a meeting or an adjourned meeting referred to in section 327D or at an AGM.

328B(4)  

The copy of the notice of nomination must be sent:


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


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


 



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