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The Pamphlet Collection of Sir Robert Stout: Volume 7


page 32


Auditors (appointment of).

88. The Ordinary Meeting in every year shall appoint two Auditors, or such number of Auditors as may be deemed by the meeting to be requisite, such Auditor or Auditors need not necessarily be a Shareholder or Shareholders, but no Director or other Officer of the Company shall be an Auditor while holding office. Until the first Ordinary Meeting of the Company the Directors for the time being shall appoint an Auditor, and subsequently in default of the Shareholders in Ordinary Meeting appointing an Auditor or Auditors, the appointment of such shall devolve upon the Directors.

Occasional vacancy in office of Auditors.

89. Any occasional vacancy in the office of Auditor shall be supplied by the Directors.

Accounts to be delivered to Auditor, examined, and reported on, 21 days before Ordinary Meeting.

90. At least twenty-one days before the day appointed for every Ordinary Meeting the Board shall deliver to the Auditor the yearly accounts and balance-sheet to be produced to the meeting, and the Auditor shall receive and examine the same, and within 14 days after the receipt thereof the Auditor shall report thereon to the Board.

Board to publish and supply Report, if demanded, 7 days before Meeting.

91. Seven days before the day appointed for every Ordinary General Meeting the Board shall publish and supply a copy of a report of the Company's affairs, and of the accounts and balance-sheet, audited, if demanded, to every Registered Shareholder, and the report and accounts shall be read at the next Ordinary General Meeting after their publication.

Auditor to have access to accounts.

92. Throughout the year, and at all reasonable times of the day, the Auditor shall have acccess to and page 33 inspection of the books of accounts and books of registry of the Company, with such assistance by clerks and others, and such other facilities as he shall reasonably require.