420

Disqualifica
tion for ap-
pointment
as auditor.

Auditors’
Teport and
auditors’
right of
access to
books and
right to
attend
general
meetings.

Ch. 31. No. 1.] Compantes.

manner as on members of the company remove any
such auditors and appoint in their place any other
persons being persons who have been nominated for
appointment by any member of the company and of
whose nomination notice has been given to the members
of the company not less than seven days before the
date of the meeting; and

(b) if the directors fail to exercise their powers under
this subsection, the company in general meeting may
appoint the first auditors, and thereupon the said
powers of the directors shall cease.

(5) The directors may fill any casual vacancy in the
office of auditor, but while any such vacancy continues the
surviving or continuing auditor or auditors, if any, may act.

(6) The remuneration of the auditors of a company
shall be fixed by the company in general meeting, except
that the remuneration of an auditor appointed before the
first annual general mecting, or of an auditor appointed to
fill a casual vacancy, may be fixed by the directors, and
that the remuneration of an auditor appointed by the
Registrar may be fixed by the Registrar.

131. None of the following persons shall be qualified for
appointment as auditor of a company—

(a) a director or officer of the company;

(b) except where the company is a private company,
a person who is a partner of or in the employment of an
officer of the company ;

(c) a body corporate.

132. (1) The auditors shall make a report to the members
on the accounts examined by them, and on every balance
sheet laid before the company in general meeting during
their tenure of office, and the report shall state—

(a2) whether or not they have obtained all the
information and explanations they have required;
and

(6) whether, in their opinion, the balance sheet
referred to in the report is properly drawn up so as to
exhibit a true and correct view of the state of the