Section 342AC — Corporations Act 2001 (Cth)

Exemption orders—criteria for orders for non‑auditor members etc.

To make an order under section 342AA or 342AB, ASIC must be satisfied that complying with the relevant requirements of Division 3 of Part 2M.4 would:

(a) make the financial report or other reports misleading; or

(b) be inappropriate in the circumstances; or

(c) impose unreasonable burdens.

Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.

Related sections

s 342 — Exemption orders—criteria for orders for companies, registered schemes, registrable superannuation entities, notified foreign passport funds and disclosing entities
s 342AA — Exemption orders—non‑auditor members and former members of audit firms; former employees of audit companies
s 342AB — Exemption orders—class orders for non‑auditor members etc.
s 342A — ASIC’s power to modify the operation of section 324DA
s 342B — Auditor to notify company, registered scheme or registrable superannuation entity of section 342A declaration
s 342C — Documents to be treated as sustainability reports for certain purposes

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