49
CurrentAudit of limited company
49 Audit of limited company
(1)
If the University—
(a)
forms, participates in the formation of, or is a member of, a limited company to which section 48 applies; and
(b)
has control, within the meaning of section 3 of the Audit Act 1994, of that limited company—
the accounts of the limited company must be audited annually by the Auditor-General.
(2)
The requirements of subsection (1) are in addition to the requirements of the Corporations Act.
This Act’s bill:Explanatory memorandumSecond reading speech
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