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CORPORATIONS ACT 2001 - SECT 990K

Auditor to report on certain matters

             (1)  If an auditor, in the performance of duties as auditor of the licensee, becomes aware of a matter referred to in subsection (2), the auditor must, within 7 days after becoming aware of the matter, lodge a written report on the matter with ASIC and send a copy of the report to the licensee, and to each licensed market (if any) and each licensed CS facility (if any) in which the licensee is a participant.

Note:          Failure to comply with this section is an offence (see subsection 1311(1)).

             (2)  A report must be given in relation to any matter that, in the opinion of the auditor:

                     (a)  has adversely affected, is adversely affecting or may adversely affect the ability of the licensee to meet the licensee's obligations as a licensee; or

                     (b)  constitutes or may constitute a contravention of:

                              (i)  a provision of Subdivision A or B of Division 2 (or a provision of regulations made for the purposes of such a provision); or

                             (ii)  a provision of Division 3 (or a provision of regulations made for the purposes of such a provision); or

                            (iii)  a provision of Subdivision B or C of this Division (or a provision of regulations made for the purposes of such a provision); or

                            (iv)  a condition of the licensee's licence; or

                     (c)  constitutes an attempt to unduly influence, coerce, manipulate or mislead the auditor in the conduct of the audit.



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