Commonwealth Consolidated Acts

NORFOLK ISLAND ACT 1979 - SECT 51A

             (1)  The Administrator shall not appoint a person or firm under section 51 to be the Auditor unless the person, or at least one member of the firm, is, or is deemed to be, registered as an auditor (in this section called a registered auditor ):

                     (a)  under Part 9.2 of the Corporations Act 2001 ; or

                     (b)  under Division 3 of Part III of the Companies Act 1985 of the Territory.

             (2)  The appointment of a firm as the Auditor shall be deemed to be an appointment of each member of the firm who, at the date of appointment, is a registered auditor.

             (3)  Where a firm that has been appointed as the Auditor is reconstituted because of the death, retirement or withdrawal of a member or members or by reason of the admission of a new member or new members, or both:

                     (a)  a person who was deemed under subsection (2) to be the Auditor and who has so died or retired or withdrawn from the firm as previously constituted shall be deemed to have resigned as the Auditor as from the day of that person's death, retirement or withdrawal and, if that person was the only member of the firm who was a registered auditor and, after that person's death, retirement or withdrawal, there is no member of the firm who is a registered auditor, the firm shall cease to hold office as the Auditor as from the day of that person's death, retirement or withdrawal;

                     (b)  a person who is a registered auditor and who is so admitted to the firm shall be deemed to have been appointed as the Auditor as from the day of that admission; and

                     (c)  the reconstitution of the firm does not affect the appointment as Auditor of any continuing member of the firm who is a registered auditor.

             (4)  Except as provided by subsection (3), upon the dissolution of a firm appointed as the Auditor:

                     (a)  the firm ceases to hold office as the Auditor as from the day of dissolution; and

                     (b)  each member of the firm who is deemed by subsection (2) or paragraph (3)(b) to have been appointed as the Auditor ceases to hold office as the Auditor as from the day of the dissolution.