297Application of Corporations Act—auditors

297 Application of Corporations Act—auditors

297 Application of Corporations Act—auditors

(1) A co-operative is declared to be an applied Corporations legislation matter for the purposes of the Corporations application legislation of this jurisdiction in relation to Divisions 1–5 of Part 2M.4 of the Corporations Act, subject to the following modifications—

(a) section 324BA in Division 2 of Part 2M.4 is to be read as if the words “Subject to section 324BD,” were omitted;

(b) section 324BD in Division 2 of Part 2M.4 is taken to be omitted;

(c) the modifications referred to in sections 13 (3) and 264 of this Law so far as they are relevant.

Note—

See section 13, including Note 1 to that section.

(2) A reference in the provisions of the Corporations Act as applying under this section to a registered company auditor is taken to be a reference to a registered company auditor within the meaning of the Corporations Act (and accordingly a reference in that term to a company is not a reference to a co-operative).