Section 340 — Corporations Act 2001 (Cth)

(1) On an application made in accordance with subsection (3) in relation to a company, registered scheme, registrable superannuation entity or disclosing entity, ASIC may make an order in writing relieving any of the following from all or specified requirements of Parts 2M.2, 2M.3 and 2M.4 (other than Division 4):

(a) the directors;

(b) the company, scheme or entity;

(c) the auditor.

Note: For the criteria for making orders under this section, see section 342.

(2) The order may:

(a) be expressed to be subject to conditions; and

(b) be indefinite or limited to a specified period.

(3) The application must be:

(a) authorised by a resolution of the directors; and

(b) in writing and signed by a director; and

(c) lodged with ASIC.

(4) ASIC must give the applicant written notice of the making, revocation or suspension of the order.

Related sections

• s 336A — Sustainability standards
• s 337 — Interpretation of accounting, auditing and sustainability standards
• s 338 — Evidence of text of accounting, auditing or sustainability standard
• s 340A — Exemption orders—notified foreign passport funds
• s 341 — Exemption orders—class orders for companies, registered schemes, registrable superannuation entities and disclosing entities
• s 341A — Exemption orders—class orders for notified foreign passport funds

Research how courts apply s 340

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