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(2) A Director or officer of the Company or the partner or the employee of such Director shall not be capable of being appointed auditor of the Company.
(3) A person other than a retiring auditor shall not be capable of being appointed auditor at an Ordinary General Meeting unless notice of an intention to nominate that person to the office of auditor has been given by a member to the Company not less than fourteen days before the meeting and the Company shall send a copy of any such notice to the retiring auditor and shall give notice thereof to the members either by advertisement or in any other mode allowed by the Articles not less than seven days before the meeting provided that if after notice of the intention to nominate an auditor has been so given an Ordinary General Meeting is called for a date fourteen days or less after the notice has been given the notice though not given within the time required by this provision shall be deemed 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 provision, be sent or given at the same time as the notice of the Ordinary General Meeting.
(4) The first auditors of the Company may be appointed by the Director before the statu- tory meeting and if so appointed shall hold office until the First Ordinary General Meeting unless previously removed by a resolution of the members in General Meet- ing in which case the members at that meeting may appoint auditors.
(5) The Directors may fill any casual vacancy
in the office of auditor but while any such vacancy continues the surviving or continu- ing auditor or auditors (if any) may act.
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auditors.
207. The remuneration of the auditors shall be fixed Remunera- by the Company in General Meeting except that the tion of remuneration of any auditors appointed before the statutory meeting or to fill any casual vacancy may be fixed by the Directors.
208. (1) Every auditor of the Company shall have Rights and a right of access at all times to the books and accounts duties of
and vouchers of the Company and shall be entitled to auditors.
require from the Directors, Permanent General Manager or General Manager if and when appointed and officers of the Company such information and explanation as may be necessary for the performance of the duties of the auditors.
(2) 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 accord- ing to the best of their information and the explanations given to them and as shown by the books of the Company.
(3) The balance sheet shall be signed on behalf of the Board by two of the Directors of the Company or if there is only one Director by that Director and shall be countersigned by the Permanent General Manager or General Manager if and when appointed and the auditors' report shall be attached to the balance sheet or there shall be inserted at the foot of the balance sheet a reference to the report and the report shall be read before the Company in General Meeting and shall be open to inspection by any member.
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