Section 327G — Corporations Act 2001: Restrictions on ASIC’s powers to appoint a company auditor

(1) ASIC may appoint an individual, firm or company as auditor of a company under section 327E or 327F only if the individual, firm or company consents to being appointed. (2) ASIC must not appoint an auditor of a company under section 327E or 327F if: (a) there is another auditor of the company (the continuing auditor); and (b) ASIC is satisfied that the continuing auditor is able to carry out the responsibilities of auditor alone; and (c) the continuing auditor agrees to continue as auditor. (3) ASIC must not appoint an auditor of a company under section 327E or 327F if: (a) the company does not give ASIC the notice required by subsection 327E(2) before the end of the notification period; and (b) ASIC has already appointed an auditor of the company under section 327E after the end of the notification period.