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The Pamphlet Collection of Sir Robert Stout: Volume 7



79. The accounts of the Company shall be examined and the correctness of the balance sheet ascertained by one or more auditor or auditors to be elected by the Company in general meeting.

80. If not more than one auditor is appointed all the provisions herein contained relating to auditors shall apply to him.

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81. The auditors need not be Shareholders in the Company. No person is elegible as an auditor who is interested otherwise than as a Shareholder in any transaction of the Company, and no Director or other officer of the Company is elegible during his continuance in office.

82. The election of auditors shall be nude by the Company at their ordinary meeting, or if there are mere than one, at their first ordinary meeting in each year.

83. The remuneration of the auditors shall be fixed by the Company at the time of their election.

84. Any auditor shall be re-elegible on is quitting office.

85. If any casual vacancy occurs in the office of auditor the Directors shall forthwith call an extraordinary general meeting for the purpose of supplying the same.

86. If no election of auditors is made in manner aforesaid the Governor may, on the application of one-fifth in number of the shareholders of the Company, appoint an auditor for the current year, and fix the remuneration to be paid to him by the Company for his services.

87. Every auditor shall be supplied with a copy of the balance sheet, and it shall be his duty to examine the same with the accounts and vouchers relating thereto.

88. Every auditor shall have a list delivered to him of all books kept by the Company, and he shall at all reasonable time have access to the books and accounts of the Company. He may at the expense of the Company employ accountants or other persons, to assist him in investigating the accounts, and he may in relation to such accounts examine the Directors or any other officer of the Company.

89. The auditors shall make a report to the Shareholders upon the balance sheet and accounts, and in every such report they shall state whether, in their opinion, the balance sheet is a full and fair balance sheet, containing the particulars required by these regulations, and properly drawn up so as to exhibit a true and correct view of the state of the Company's affairs, and in case they have called for explanations or information from the Directors, whether such explanations or information have been given by the Directors, and whether they have been satisfactory, and such report shall be read together with the report of the Directors at the ordinary meeting.