CORPORATIONS ACT 2001 - SECT 331AD Effect of winding up on office of auditor

CORPORATIONS ACT 2001 - SECT 331AD

    An auditor of a registered scheme ceases to hold office if:

  (a)   the scheme's constitution provides that the scheme is to be wound up at a specified time, in specified circumstances or on the happening of a specified event, and that time is reached, those circumstances occur or that event occurs; or

  (b)   the members pass a resolution directing the responsible entity to wind up the scheme; or

  (c)   the Court makes an order directing the responsible entity to wind up the scheme; or

  (d)   the members pass a resolution to remove the responsible entity but do not, at the same meeting, pass a resolution choosing a company to be the new responsible entity that consents to becoming the scheme's responsible entity.