Notifications about approval to extend eligibility term
324DAC Notifications about approval to extend eligibility term
If the directors of a listed company, of a listed registered scheme or of a registrable superannuation entity, grant an approval under section 324DAA, the directors must, within 14 days of granting the approval:
lodge a copy of the resolution granting the approval with ASIC; and
if the approval was granted by the directors of a registrable superannuation entity—give a copy of the resolution to APRA; and
give a copy of the resolution to:
if the individual to whom the approval relates does not act on behalf of an audit firm or company—the individual; and
if the individual to whom the approval relates acts on behalf of an audit firm or company—the audit firm or company on whose behalf the individual acts.
Details of the approval, and the reasons for the approval, must be included in the directors’ report under section 300 or 300C.
This Act’s bill:Explanatory memorandumSecond reading speech
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