Section 328D — Corporations Act 2001: Public company auditor (appointment of auditor when $3 million raised using crowd-sourced funding)

(1) If the directors of a public company that is covered under section 738ZI become aware that the company has raised $3 million or more from all CSF offers, the directors of the company must appoint an auditor of the company within 1 month after becoming so aware, unless the company at a general meeting has appointed an auditor. (2) An auditor appointed under subsection (1) holds office in accordance with section 328E. (3) A director of a company must take all reasonable steps to comply with, or to secure compliance with, subsection (1).