CORPORATIONS ACT 2001 - SECT 327G Restrictions on ASIC's powers to appoint a company auditor

CORPORATIONS ACT 2001 - SECT 327G

  (1)   ASIC may appoint an individual, firm or company as auditor of a company under section   327E or 327F only if the individual, firm or company consents to being appointed.

  (2)   ASIC must not appoint an auditor of a company under section   327E or 327F if:

  (a)   there is another auditor of the company (the continuing auditor ); and

  (b)   ASIC is satisfied that the continuing auditor is able to carry out the responsibilities of auditor alone; and

  (c)   the continuing auditor agrees to continue as auditor.

  (3)   ASIC must not appoint an auditor of a company under section   327E or 327F if:

  (a)   the company does not give ASIC the notice required by subsection   327E(2) before the end of the notification period; and

  (b)   ASIC has already appointed an auditor of the company under section   327E after the end of the notification period.