Form 397 - Notification Of Directors' Resolution Under S324dac (Page 3 of 3) in pdf

Australian Securities &

Investments Commission

Form 397

Corporations Act 2001

324DAC

Guide:

Notification of directors’ resolution under s324DAC

This guide does not form part of the form. It is included by ASIC to assist you in completing and lodging the Form 397.

Signature

This form must be signed by a current officeholder of the company.

The resolution must be made before the end of the fifth successive financial year.

Lodgement period

This resolution must be lodged with ASIC within 14 days after the date of the resolution in order to be relied upon.

If lodged after this time, the form will not be accepted and the directors will be advised to pass another resolution.

If the company or scheme has an audit committee, the approval must be in accordance with the recommendation of the

Terms of the resolution

audit committee. Section 324DAB sets out strict requirements about the approval and audit committee recommendation.

These include that the audit committee must be satisfied that the continuation of the current auditor:

•

is consistent with maintaining the quality of the audit provided, and

•

would not give rise to a conflict of interest situation as defined in s324CD.

If the company or scheme does not have an audit committee, the approval must set out the reasons why the directors

are satisfied that the continuation of the current auditor:

•

is consistent with maintaining the quality of the audit provided, and

•

would not give rise to a conflict of interest situation as defined in s324CD.

How to provide additional

Annexures

If there is insufficient space in any section of the form, you may alternately submit annexures as part of this lodgement.

information

To make any annexure conform to the regulations, you must

1. use A4 size paper of white or light pastel colour with a margin of at least 10mm on all sides

2. show the company name and ACN or ABN

3. number the pages consecutively

4. print or type in BLOCK letters in dark blue or black ink so that the document is clearly legible when photocopied

5. mark the annexure with an identifying letter or symbol eg a,b,c or 1,2,3 etc.

6. endorse the annexure with the words:

This annexure (mark) of (number) pages referred to in form (form number and title)

7. sign and date the annexure

The annexure must be signed by the same person(s) who signed the form.

Privacy

The information provided to ASIC in this form may include personal information. Please refer to our privacy policy

( ) for information about how we handle your personal information, your rights to seek access to and

correct personal information, and to complain about breaches of your privacy.

Lodgement

Send completed and signed forms to:

For more information

Australian Securities and Investments Commission,

Web

GPO Box 9827 in your capital city.

Need help? /question

Telephone

1300 300 630

ASIC Form 397 Guide

15 February 2015

Page 1 of 1

Form 397 - Notification Of Directors' Resolution Under S324dac Page 3

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