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111--(1) A company may by special resolution appoint ower of inspectors to investigate its affairs.
company
to appoint
(2) Inspectors so appointed shall have the same powers inspectors.
s Edw. 7 c. and duties as inspecters appointed by the [Governor], except
69 s. 110. that, instead of reporting to the [Governor], they shall report in such manner and to such persons as the company in general meeting may direct.
(3) Officers and agents of the company shall incur the like penalties in case of refusal to produce any book or document required to be produced to inspectors so ap- pointed, or to answer any question, as they would have incurred if the inspectors had been appointed by the [Governor].
7b. s. 111.
112. A copy of the report of any inspectors appointed Report of under this Ordinance, authenticated by the seal of the inspectors to company whose affairs they have investigated, shall be be evidence. admissible in any legal proceeding as evidence of the opinion of the inspectors in relation to any matter contained in the report.
113.—(1) Every company shall at each annual general Appoint- meeting appoint au anditor or auditors to hold office until ment and the next anual general meeting.
remunera-
tion of
Ib. s. 112.
(2) If an appointment of auditors is not made at an auditors. annual general meeting, the [Governor] may, on the applica- or auditors tiou of any member of the company, appoin an auditor[] of the company for the current year, and fix the remuneration to be paid to him by the company for his services.
or them
or the part- ner or em- ployee of such direc-
tor
(3) A director or officer of the company [] shall not be capable of being appointed auditor of the company.
(4) A person, other than a retiring au litor, shall not be capable of being appointed auditor at an animal general meeting less notice of an intention to nominate that person to the office of auditor has been given by a share- holder to the company not less than fourteen days before the anual general meeting, and the company shall sond a copy of any such motive to the retiring auditor, and shall give notice thereof to the shareholders, either by advertisement or in any other mode allowed by the articles, not less than seven days before the annual general meeting :
Provided that if, after a notice of the intention to nomi- nate an auditor has been so given, an annual general meci- ing is called for a dato fourteen days or less after that notice has been given, the notice, though not given within the time required by this provision, shall be deeme i to have been properly given for the purposes thereof, and the notice to be sent or given by the company may, instead of being sent or given within the time required by this provi- sion, be sent or given at the same time as the notice of the annual general meeting.
(5) The first auditors of the company may be appointed by the dire tors before the statutory meeting, and if so appointed shall hold office until the first annual general mecting, unless previously removed by a resolution of the shareholders in general meeting, in which case the share- holders at that meeting may appoint auditors.
(6) The directors may fill any casual vacancy in the office of anditor, but while any such vacancy continues the surviving or continuing auditor or auditors, if any, may act.
(7) The remuneration of the auditors of a company shall be fixed by the company in general meeting, except that the remuneration of any anditors appointed before the statutory meeting, or to fill any casual vacancy, may be fixed by the directors.
114.—(1) Every auditor of a company shall have a right Powers and of access at all times to the books and accounts and vouchers duties of of the company, and shall be entitled to require from the auditors. directors and officers of the company such information and 8 Edw. 7 c. explanation as may be necessary for the performance of the duties of the auditors,
(2) The auditors shall make a report to the shareholders on the accounts examined by them, and on every halance sheet laid before the company in general meeting during their tenure of office, and the report shall state-
69 s. 113.