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CORPORATIONS ACT 2001 - SECT 1461

Audit reforms in Schedule 1 to the amending Act (auditor appointment)

  (1)   Section   324AC applies to all appointments of firms as auditor (including an appointment that was made before the Schedule   1 commencement).

  (2)   The appointment of a person as auditor of a company or registered scheme made before the Schedule   1 commencement under section   327 or 331AB of the old Act remains valid and effective despite the repeal of that section.

  (3)   An approval by ASIC that is in force under subsection   324(12) of the old Act immediately before the Schedule   1 commencement has effect on and after the Schedule   1 commencement as if it had been given under section   324B.


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