Section 324CLA — Corporations Act 2001 (Cth)

(1) For the purposes of this Division, a person is taken to be an officer of a registrable superannuation entity if:

(a) the person is an officer of:

(i) a related body corporate of the RSE licensee for the registrable superannuation entity; or

(ii) an entity that the RSE licensee for the registrable superannuation entity controls; or

(b) the person has, at any time within the immediately preceding period of 12 months, been an officer or promoter of:

(i) a related body corporate of the RSE licensee for the registrable superannuation entity; or

(ii) an entity that the RSE licensee for the registrable superannuation entity controlled at that time.

Note: Officer of a registrable superannuation entity is defined in section 345AAD. This subsection extends the meaning of that expression for the purposes of this Division.

(2) Paragraph (1)(b) does not apply if ASIC directs that it does not apply in relation to the person in relation to the RSE licensee for the registrable superannuation entity. ASIC may give the direction only if ASIC thinks that it is appropriate to do so in the circumstances of the case.

Related sections

• s 324CJ — Special rule for retiring professional member of audit company
• s 324CK — Multiple former audit firm partners or audit company directors
• s 324CL — People who are regarded as officers of a company for the purposes of this Division
• s 324CM — Deliberately disqualifying auditor
• s 324DA — Limited term for eligibility to play significant role in audit of a listed company, listed registered scheme or registrable superannuation entity
• s 324DAA — Directors may extend eligibility term

Research how courts apply s 324CLA

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