132
CAP. 32]
Companies
[1984 Ed.
Appointment and removal of auditors.
fet. 1976 c. 69, s. 14.]
with a copy of the last balance sheet of the company, including every document required by law to be annexed thereto, together with a copy of the directors' report and a copy of the auditors' report.
(2A) Any member of a company who is not entitled to vote at a general meeting of the company shall, notwithstanding subsection (1), be furnished with a copy of any statement issued by the company as a chairman's statement, and of any other document intended for the purpose of providing information about the affairs of the company, which is circulated by the company with the documents required to be sent to members under subsection (1). (Added 6 of 1984, s. 91)
(3) If default is made in complying with subsection (1) or (2A), the company and every officer of the company who is in default shall be liable to a fine of $200, and if, when any person makes a demand for any document with which he is by virtue of subsection (2) entitled to be furnished, default is made in complying with the demand within 7 days after the making thereof, the company and every officer of the company who is in default shall be liable to a default fine, unless it is proved that that person has already made a demand for and been furnished with a copy of the document.
(Amended 6 of 1984, s. 91)
(4) Subsections (1), (2) and (3) shall not have effect in relation to a balance sheet of a private company laid before it before 1 October 1975, but the provisions of this Ordinance which were in force immediately before the said date shall apply in relation to—
(a) the right of any person to be furnished with a copy of any
such balance sheet, and
(b) the liability of the company and any officer thereof in
respect of a failure to satisfy that right.
130. [Repealed 6 of 1983, s. 60]
(Added 80 of 1974, s. 12)
131. (1) Every company shall at each annual general meeting of the company appoint an auditor or auditors to hold office from the conclusion of that meeting until the conclusion of the next annual general meeting of the company.
(2) Where at an annual general meeting of a company no auditors are appointed or reappointed, the court may, on the application of any member of the company, appoint a person to fill the vacancy.
(3) The first auditors of a company may be appointed by the directors at any time before the first annual general meeting of the company, and auditors so appointed shall hold office until the conclusion of that meeting.
(4) If the directors fail to exercise their powers under subsection (3), those powers may be exercised by the company in general meeting.