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a copy of any such notice to the retiring auditor, and shall give notice thereof to the shareholders, by advertisement in an English newspaper printed and circulating in the Colony, not less than seven days before the ordinary yearly general meeting.
Provided that if, after a notice of the intention to nominate an auditor has been so given, an ordinary yearly general meeting is called for a date fourteen days or less after that 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 Bank 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 yearly general meeting.
(5) The auditors of the Bank who shall be in office at the time of the commencement of the Ordinance shall subject to regulation 151 hold office until the next ordinary yearly general meeting.
(6) The Board may fill any casual vacancy in the office of auditor, but while any such vacancy continues the surviving or continuing auditor or audi- tors, if any, may act.
(7) The remuneration of the auditors of the Bank shall be fixed by the shareholders in general meeting, except that the remuneration of any auditors appointed to fill any casual vacancy shall be fixed by the Board.
148.-(1) Every auditor shall at all reasonable times have a right of access to the books and accounts and vouchers and returns of the Bank in the Colony and shall be entitled to require from the Directors and officers of the Bank such information and explanations as may be necessary for the performance of his duties, but as regards the books and accounts of any establishment beyond the limits of the Colony it shall be sufficient if the auditors. be allowed access to such copies thereof and extracts therefrom as have been transmitted to the Head Office.
(2) The auditors shall make a report to the shareholders on the accounts examined by them, and on every balance sheet laid before the shareholders in general meeting during their tenure of office, and the report shall state-
(a) Whether or not they have obtained all the information and ex-
planations they have required and,
(b) Whether, in their opinion, the balance sheet referred to in the report is a full and fair balance sheet properly drawn up, so as to exhibit a true and correct view of the state of the Bank's affairs according to the best of their information and the ex- planations given to them, and as shown by the books and returns of the Bank.
149. It shall not be requisite that an auditor be a shareholder, but the auditors may be shareholders of the Bank.
150. If an auditor be appointed a Director or other Officer servant of the Bank, he shall immediately thereupon cease to be an auditor.
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Powers and duties of auditors.
Auditor need not be shareholder.
or
Director not
to be auditor.
or
removal
151. Any auditor may resign his office or may be removed from office by Resignation a vote of any general meeting, or may, subject to the approval of the Governor, be removed by the Board.
152. Every profit and loss account and balance sheet, when audited and approved by a general meeting, shall be conclusive, except as regards any error discovered therein within three months next after the approval thereof. Whenever any such error is discovered within that period, the account shall forthwith be corrected, and thenceforth shall be conclusive.
of auditor.
When accounts
to be demed
finally settled.