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CORPORATIONS ACT 2001 - SECT 328D

Public company auditor (appointment of auditor when $3 million raised using crowd - sourced funding)

  (1)   If the directors of a public company that is covered under section   738ZI become aware that the company has raised $3 million or more from all CSF offers, the directors of the company must appoint an auditor of the company within 1 month after becoming so aware, unless the company at a general meeting has appointed an auditor.

  (2)   An auditor appointed under subsection   (1) holds office in accordance with section   328E.

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


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