Section 324DAC — Corporations Act 2001: Notifications about approval to extend eligibility term

If the directors of a listed company, of a listed registered scheme or of a registrable superannuation entity, grant an approval under section 324DAA, the directors must, within 14 days of granting the approval: (a) lodge a copy of the resolution granting the approval with ASIC; and (aa) if the approval was granted by the directors of a registrable superannuation entity—give a copy of the resolution to APRA; and (b) give a copy of the resolution to: (i) if the individual to whom the approval relates does not act on behalf of an audit firm or company—the individual; and (ii) if the individual to whom the approval relates acts on behalf of an audit firm or company—the audit firm or company on whose behalf the individual acts. Note: Details of the approval, and the reasons for the approval, must be included in the directors’ report under section 300 or 300C.