Companies.
(7) 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 meeting, 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 court may be fixed by the court.
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132. (1) 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.
(2) Nothing in this section shall disqualify a body corporate from acting as auditor of a company if acting under an appointment made before the day on which this Ordinance comes into operation, but subject as aforesaid any body corporate which acts as auditor of a company shall be liable to a fine of two thousand dollars.
Disqualification for appointment as auditor. 19 & 20 Geo. 5, c. 23, s. 133.
22 of 1950, Schedule.
Auditors' report and right of access to books and right to attend general meetings.
19 & 20 Geo. 5, c. 23, s. 134.
133. (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-
(a) whether or not they have obtained all the information and explanations they have required; and
(b) 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 company's affairs according to the best of their information and the explanations given to them, and as shown by the books of the company.
(2) Every auditor of a company shall have a right of access at all times to the books and accounts and vouchers of the company, and shall be entitled to require from the directors and officers of the company such information and explanation as may be necessary for the performance of the duties of the auditors: Provided that, in the case of a banking company which has branch banks beyond the limits of the Colony, it shall be sufficient if the auditor is allowed access...