(1) If a registered company auditor plays a significant role in the audit of a company, registered scheme or registrable superannuation entity in reliance on a declaration by ASIC under section 342A, the auditor must give:
(a) the company; or
(b) the responsible entity for the registered scheme; or
(c) the registrable superannuation entity;
written notice of the declaration.
(2) The notice must specify:
(a) the name of the registered company auditor; and
(b) the additional financial years for which the registered company auditor is, because of the declaration under section 342A, eligible to play a significant role in the audit of the company, registered scheme or registrable superannuation entity.
(3) The notice must be given:
(a) as soon as practicable after the declaration is made if the auditor has been appointed before the declaration is made; or
(b) before the auditor is appointed if the declaration is made before the auditor is appointed.