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CORPORATIONS ACT 2001 - SECT 327A

Public company auditor (initial appointment of auditor)

             (1)  The directors of a public company must appoint an auditor of the company within 1 month after the day on which a company is registered as a company unless the company at a general meeting has appointed an auditor.

          (1A)  Subsection (1) does not apply in relation to a company if:

                     (a)  the directors reasonably believe that subsection 301(3) will apply to the company's financial reports; or

                     (b)  the company is a small company limited by guarantee; or

                     (c)  the company is covered under section 738ZI just after it is registered as a company.

             (2)  Subject to this Part, an auditor appointed under subsection (1) holds office until the company's first AGM.

             (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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