Document ID: chunk:federal_register_of_legislation:C2004A01334:clause:1_327g
Version: federal_register_of_legislation:C2004A01334
Segment Type: clause
Provision Reference: sch 1 cl 327G
Character Range: 182982–183887

327G  Restrictions on ASIC's powers to appoint public company auditor

 (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.