§ 205AD — Court may order written statement not to be sent out

205AD.—(1) This section applies if an application has been made under section 205AC(2) in relation to a written statement given by an auditor.[36/2014]

(2) If the Court is satisfied that the auditor has abused the use of the written statement or is using the written statement to secure needless publicity for any defamatory matter, the Court —(a)

must direct that copies of the written statement are not to be sent under section 205AC(1); and

(b)

may order the auditor, though not a party to the application, to pay the applicant’s costs on the application in whole or in part.[36/2014]

(3) If the Court gives directions under subsection (2)(a), the company must, within 14 days beginning on the date on which the directions are given send a notice setting out the effect of the directions to —(a)

every member of the company; and

(b)

unless already named as a party to the proceedings, the auditor who gave the written statement.[36/2014]

(4) If the Court decides not to grant the application, the company must, within 14 days beginning on the date on which the decision is made or on which the proceedings are discontinued for any reasons —(a)

give notice of the decision to the auditor who has given the written statement; and

(b)

send a copy of the written statement to every member of the company and to that auditor.[36/2014]

(5) If default is made in complying with subsection (3) or (4), the company and every director of the company who is in default shall each be guilty of an offence and shall each be liable on conviction to a fine not exceeding $5,000.[36/2014]

—(1) This section applies if an application has been made under section 205AC(2) in relation to a written statement given by an auditor.[36/2014]

(2) If the Court is satisfied that the auditor has abused the use of the written statement or is using the written statement to secure needless publicity for any defamatory matter, the Court —(a)

must direct that copies of the written statement are not to be sent under section 205AC(1); and

(b)

may order the auditor, though not a party to the application, to pay the applicant’s costs on the application in whole or in part.[36/2014]

(3) If the Court gives directions under subsection (2)(a), the company must, within 14 days beginning on the date on which the directions are given send a notice setting out the effect of the directions to —(a)

every member of the company; and

(b)

unless already named as a party to the proceedings, the auditor who gave the written statement.[36/2014]

(4) If the Court decides not to grant the application, the company must, within 14 days beginning on the date on which the decision is made or on which the proceedings are discontinued for any reasons —(a)

give notice of the decision to the auditor who has given the written statement; and

(b)

send a copy of the written statement to every member of the company and to that auditor.[36/2014]

(5) If default is made in complying with subsection (3) or (4), the company and every director of the company who is in default shall each be guilty of an offence and shall each be liable on conviction to a fine not exceeding $5,000.[36/2014]