Document ID: chunk:federal_register_of_legislation:C2004A03179:body:0:p6
Version: federal_register_of_legislation:C2004A03179
Segment Type: other
Provision Reference: 
Character Range: 12360–15024

the commencement of section 10 of the Companies Amendment Act 1985".

Failure to comply with Division
11. Section 276 of the Principal Act is amended by inserting in sub-section (1) "or 275a" after "267".

Exempt proprietary company need not appoint auditor in certain circumstances
12. Section 279 of the Principal Act is amended by omitting sub-sections (5) and (6) and substituting the following sub-sections:
"(6) Where—
    (a) a directors' statement relating to accounts of a company contains a statement to the effect that, in respect of a financial year of the company—
        (i) the company did not keep such accounting records as correctly record and explain the transactions and financial position of the company;
        (ii) the company did not keep its accounting records in such a manner as would enable true and fair accounts of the company to be prepared from time to time; or
        (iii) the company did not keep its accounting records in such a manner as would enable the accounts of the company to be conveniently and properly audited in accordance with this Act;
    (b) a directors' statement relating to accounts of a company contains a statement to the effect that the accounts have not been properly prepared by a competent person;
    (c) a directors' statement relating to group accounts of a holding company contains a statement to the effect that the group accounts have not been properly prepared by a competent person; or
    (d) a director of a company or holding company is convicted of an offence under sub-section 563 (2) or 564 (1) in relation to a matter that, pursuant to paragraph 269 (9) (ca) or (10) (ca), has been stated in a directors' statement relating to accounts of the company, or group accounts of the holding company, as the case may be,
there shall be deemed to be a vacancy in the office of the auditor of the company or holding company, as the case may be, and sub-section 280 (5) applies in relation to that vacancy.
"(6a) In sub-section (6)—
    (a) a reference to a directors' statement relating to accounts of a company is a reference to a statement that the directors of the company have, pursuant to sub-section 269 (9), caused to be attached to the accounts; and
    (b) a reference to a directors' statement relating to group accounts of a holding company is a reference to a statement that the directors of the holding company have, pursuant to sub-section 269 (10), caused to be attached to the group accounts.
"(6b) Sub-sections (6) and (6a) of this section, as in force after the commencement of section 12 of the Companies Amendment Act 1985, apply in relation to—
    (a) accounts of a company