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CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS    View history reference

PART 7.8 - OTHER PROVISIONS RELATING TO CONDUCT ETC. CONNECTED WITH FINANCIAL PRODUCTS AND FINANCIAL SERVICES, OTHER THAN FINANCIAL PRODUCT DISCLOSURE    View history reference

Division 6 - Financial records, statements and audit    View history reference

Subdivision D - Appointment etc. of auditors    View history reference

SECTION 990G  RESIGNATION OF AUDITORS - REQUIREMENTS FOR RESIGNATION  

 View history reference

990G(1)  [ASIC's consent required]  


An auditor of the licensee may, by written notice given to the licensee, resign as auditor of the licensee if:


(a) the auditor has, by written notice given to ASIC, applied for consent to the resignation and, at or about the same time as the auditor gave notice to ASIC, gave written notice of the application to the licensee; and


(b) ASIC has consented and the auditor has received notice of ASIC's consent.

990G(2)  [Notification of consent]  


ASIC must, as soon as practicable after receiving an application from an auditor under subsection (1), notify the auditor and the licensee whether it consents to the resignation.

990G(3)  [Statement by auditor inadmissible]  


A statement by an auditor in an application under subsection (1), or in answer to an inquiry by ASIC relating to the reasons for the application:


(a) is not admissible in evidence in any civil or criminal proceedings in a court against the auditor other than proceedings for a contravention of section 1308; and


(b) may not be made the ground of a prosecution (other than a prosecution for a contravention of section 1308), action or suit against the auditor.

990G(4)  [ASIC certificate conclusive evidence]  


A certificate by ASIC that a statement was made in an application under subsection (1), or in answer to an inquiry by ASIC relating to the reasons for such an application, is conclusive evidence that the statement was so made.


 



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