Document ID: chunk:federal_register_of_legislation:C2025C00185:section:329:p2
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 329 (pt 2/2)
Character Range: 1318899–1320886

by an auditor in an application to ASIC under subsection (5) 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 against the auditor; and
 (b) may not be made the ground of a prosecution, action or suit against the auditor;
and a certificate by ASIC that the statement was made in the application or in the answer to the inquiry by ASIC is conclusive evidence that the statement was so made.
 (8) Subject to subsection (9), the resignation of an auditor takes effect:
 (a) on the day (if any) specified for the purpose in the notice of resignation; or
 (b) on the day on which ASIC gives its consent to the resignation; or
 (c) on the day (if any) fixed by ASIC for the purpose;
whichever last occurs.
 (9) The resignation of an auditor of a proprietary company or a small company limited by guarantee does not require the consent of ASIC under subsection (5), and takes effect:
 (a) on the day (if any) specified for the purpose in the notice of resignation; or
 (b) on the day on which the notice is received by the company;
whichever is the later.
 (10) Where on the retirement or withdrawal from a firm of a member the firm will no longer be capable, by reason of the provisions of subparagraph 324BB(1)(b)(i) or (2)(b)(i) of acting as auditor of a company, the member so retiring or withdrawing is (if not disqualified from acting as auditor of the company) taken to be the auditor of the company until he or she obtains the consent of ASIC to his or her retirement or withdrawal.
 (11) Within 14 days after:
 (a) the removal from office of an auditor of a company; or
 (b) the receipt of a notice of resignation from an auditor of a company;
the company must:
 (c) lodge with ASIC a notice of the removal or resignation in the prescribed form; and
 (d) where there is a trustee for the holders of debentures of the company—give to the trustee a copy of the notice lodged with ASIC.