Document ID: chunk:federal_register_of_legislation:C2025C00185:section:331aaa:p2
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 331AAA (pt 2/2)
Character Range: 1324061–1324964

that that conflict of interest situation has, or those circumstances have, ceased to exist before the end of the period (the remedial period) of 21 days, or such longer period as ASIC approves in writing, from the start day.
 (2D) The notification day is:
 (a) the last day of the remedial period; or
 (b) such later day as ASIC approves in writing (whether before or after the remedial period ends).
 (3) A director of the responsible entity of a registered scheme must take all reasonable steps to secure compliance with subsection (1).
 (4) If an audit firm ceases to be the auditor of a registered scheme under subsection (2) at a particular time, each member of the firm who:
 (a) is taken to have been appointed as an auditor of the scheme under subsection 324AB(1) or 324AC(4); and
 (b) is an auditor of the scheme immediately before that time;
ceases to be an auditor of the scheme at that time.