Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 1291A

Application of this section

  (1)   This section applies if ASIC decides under section   1291 to suspend or cancel the registration of a person as an auditor.

ASIC must give notice of decision

  (2)   ASIC must, within 10 business days after making the decision, give a written notice setting out the decision, and the reasons for the decision.

When decision comes into effect

  (3)   The decision comes into effect on the day after the notice is given to the person.

Failure to give notice does not affect validity of decision

  (4)   A failure by ASIC to give the notice under subsection   (2) within 10 business days does not affect the validity of the decision.