Commonwealth Consolidated Acts

AUSTRALIAN INDUSTRY DEVELOPMENT CORPORATION ACT 1970 - SECT 29

          (7A)  The Auditor‑General is to be appointed auditor of each Australian subsidiary of the Corporation where any law of the Commonwealth, a State or a Territory relating to companies requires the appointment of an auditor for such a subsidiary.

          (7B)  When the Auditor‑General is appointed auditor under subsection (7A), he or she may appoint an agent to conduct the audit on his or her behalf.

             (8)  Nothing in this section:

                     (a)  prevents the Board from arranging for the accounts and records of financial transactions of the Corporation, and records relating to assets of, or in the custody of, the Corporation to be audited by a person registered as a company auditor under a law in force in a State or Territory in addition to the audit of those accounts and records conducted by the Auditor‑General; or

                     (b)  affects the application to an Australian subsidiary of the Corporation of any other law in force in a State or Territory relating to:

                              (i)  the appointment of an auditor or auditors of the subsidiary; or

                             (ii)  the powers and duties of an auditor or auditors of the subsidiary appointed under such a law.

             (9)  A reference in this section to an Australian subsidiary of the Corporation is a reference to a body corporate that is a subsidiary of the Corporation and is incorporated in Australia.