Section 342B — Corporations Act 2001: Auditor to notify company, registered scheme or registrable superannuation entity of section 342A declaration

(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.