Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 327C

  (1)   If:

  (a)   a vacancy occurs in the office of auditor of a public company; and

  (b)   the vacancy is not caused by the removal of an auditor from office; and

  (c)   there is no surviving or continuing auditor of the company;

the directors must, within 1 month after the vacancy occurs, appoint an auditor to fill the vacancy unless the company at a general meeting has appointed an auditor to fill the vacancy.

Note:   Certain public companies are not required to appoint an auditor: see subsections   327A(1A) and 327B(1A).

  (2)   An auditor appointed under subsection   (1) holds office, subject to this Part, until the company's next AGM.

  (3)   A director of a public company must take all reasonable steps to comply with, or to secure compliance with, subsection   (1).