(1) Within 1 month after becoming the holder of a futures brokers licence, a futures broker (other than an Australian ADI) must appoint a person or persons, a firm or firms, or a person or persons and a firm or firms, as auditor or auditors to audit the broker's financial statements. (2) Subject to this section, a person must not:
(3) Subject to this section, a firm must not:
(4) For the purposes of paragraphs (2)(e) and (3)(f), disregard a debt owed by a natural person to a body corporate if:
(5) For the purposes of subsections (2) and (3), a person is taken to be an officer of a body corporate if:
(6) For the purposes of this section, a person is not taken to be an officer of a body corporate by reason only of being or having been the liquidator of the body corporate or of a related body corporate. (7) For the purposes of this section, a person is not taken to be an officer of a body corporate by reason only of having been appointed as an auditor of that body corporate or of a related body corporate or, for any purpose relating to taxation, a public officer of a body corporate or by reason only of being or having been authorised to accept on behalf of the body corporate or a related body corporate service of process or any notices required to be served on the body corporate or related body corporate. (8) The appointment of a firm as auditor of a futures broker is taken to be an appointment of all persons who are members of the firm and are registered company auditors, whether resident in Australia or not, at the date of the appointment. (9) Where a firm that has been appointed as auditor of a futures broker is reconstituted by reason of the death, retirement or withdrawal of a member or members or by reason of the admission of a new member or new members, or both:
(10) Except as provided by subsection (9), the appointment of the members of a firm as auditors of a futures broker that is taken by subsection (8) to have been made by reason of the appointment of the firm as auditor of the broker is not affected by the dissolution of the firm. (11) A report or notice that purports to be made or given by a firm appointed as auditor of a futures broker is not taken to be duly made or given unless it is signed, in the firm name and in the name of the member concerned, by a member of the firm who is a registered company auditor. (12) Where a person or firm is appointed as an auditor under subsection (1) (not being an appointment that is taken to be made by virtue of subsection (9)) or under subsection (16), the futures broker must, within 14 days after the appointment, lodge with ASIC a notice in writing stating that the broker has made the appointment and specifying the name of the person or firm. (13) Without limiting the generality of section 1311, if, in contravention of this section, a firm consents to be appointed, or acts as, an auditor of a futures broker or prepares a report required by this Act to be prepared by an auditor of a futures broker, each member of the firm is guilty of an offence. (14) A person must not:
(15) An auditor of a futures broker holds office until death, until removal or resignation from office in accordance with section 1216 or until becoming prohibited from acting as auditor by reason of subsection (2) or (3). (16) Within 14 days after a vacancy occurs in the office of an auditor of a futures broker, if there is no surviving or continuing auditor of the broker, the broker must appoint a person or persons, a firm or firms or a person or persons and a firm or firms to fill the vacancy. (17) While a vacancy in the office of an auditor continues, the surviving or continuing auditor or auditors (if any) may act. (18) A futures broker must not appoint a person or firm as auditor of the broker unless that person or firm has, before the appointment, consented by notice in writing given to the broker to act as auditor and has not withdrawn the consent by notice in writing given to the broker. (19) This section does not apply in relation to a body corporate (except a proprietary company) in relation to which section 327 applies.