Section 331AF — Corporations Act 2001: Registrable superannuation entity auditor (initial appointment of auditor)

(1) If a registrable superannuation entity is registered under section 29M of the Superannuation Industry (Supervision) Act 1993 after the commencement of this section, the RSE licensee must appoint an auditor of the entity for the purposes of this Chapter within 1 month after the day on which the entity is registered under that section. (2) If: (a) a registrable superannuation entity was registered under section 29M of the Superannuation Industry (Supervision) Act 1993 immediately before the commencement of this section; and (b) immediately before the commencement of this section, an individual held an appointment as an auditor of the entity for the purposes of the RSE licensee law; then: (c) the RSE licensee is taken to have appointed the individual as an auditor of the entity for the purposes of this Chapter; and (d) that appointment takes effect at the commencement of this section. (3) A director of the registrable superannuation entity must take all reasonable steps to secure compliance with subsection (1).