13Auditor‑General to be Company’s auditor

13 Auditor‑General to be Company’s auditor

(1) The Auditor‑General is taken to have been appointed under subsection 327(3) of the Corporations Law of the Australian Capital Territory as auditor of the Company, with effect from the commencement of this section. (2) Sections 328 and 329 of the Corporations Act 2001 do not apply in relation to the Company so long as no person owns beneficially (whether as sole owner or as co‑owner) more voting shares (within the meaning of that Act) in the Company than the Commonwealth so owns. (3) Nothing done, or omitted to be done, by the Auditor‑General as auditor of the Company makes the Auditor‑General liable to be prosecuted for an offence. (4) Because of this subsection, the auditor or auditors of the Company in office immediately before the commencement of this section ceases or cease at that commencement to hold office. (5) No amount is payable to a person because of, or in connection with, an auditor of the Company ceasing to hold office because of subsection (4). (6) Subsection (5) does not affect: (a) an entitlement in so far as it relates to a period before the commencement of this section; or (b) an entitlement under section 331 of the Corporations Act 2001 or under section 14 of this Act. (7) Subject to subsection (6), this section has effect despite any provision of the Corporations Act 2001.