Audit.
87. The accounts of the Company shall be
examined, and the correctness of the balance- sheet ascertained, by an auditor or auditors, to be elected by the Company in general meetings.
88. If only one auditor is appointed, all the
provisions herein contained relative to auditors shall apply to him.
89. The auditors need not, but may be Share-
Qualifications of auditors.
holders in the Company, and no Director, manager, or other officer of the Company, shall be eligible as auditor during his tenure of office, or within one year after the determination thereof.
90. The election of auditors shall be made
by the Company at the first ordinary meeting in each year ensuing the incorporation of
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the Company. Until the first of such meetings, auditors may be appointed by the Directors.
91. The remuneration of the auditors for the first year shall be fixed by the Directors, and afterwards by the Company in general meeting.
92. An auditor shall be re-eligible on his quitting office.
Auditors, casual vacancy.
93. If no election of auditor is made in manner aforesaid, or if an occasional vacancy in the office should occur, an auditor or auditors may be temporarily appointed by the Directors.
94. Every auditor shall be supplied with a copy of the balance-sheet, and it shall be his duty to examine the same with the books, accounts, and vouchers relating thereto.
Auditors to have access to all books, &c.
95. Every auditor shall, at all reasonable times, have access to all the books and accounts and securities of the Company, and the assistance of the Company's clerks in examining them.
96. The auditors shall make a report to the Shareholders upon the balance-sheet and accounts, and their report shall be read, together with the report of the Directors, at the ordinary meeting.
Local auditors if appointed.
97. The Directors, or the Company by resolution of a General Meeting, may direct that there shall be a local auditor, or local auditors, of the accounts of the Company, in respect of any office or offices of the Company, within or beyond the colony of New Zealand, and may appoint such auditor or auditors, and save as the resolution shall otherwise direct, the provision hereinbefore contained with respect to auditors of the Company shall apply to the auditors under any such resolution.