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143. A copy of such account and balance sheet shall, within two days next after the day of such meeting, he sent by the Board to the Governor.
144. At every ordinary yearly general meeting the Board shall lay before the shareholders a duly audited profit and loss account and balance sheet containing a general summary of the assets and liabilities of the Bank, made up to the end of the financial year next preceding such meeting from the time when the last preceding account and balance sheet were made up, together with the auditors' report which latter report shall be attached to the balance sheet and shall be read out at such meeting and shall con- tain such particulars as are set out in paragraph (2) of regulation 148.
145. Every such balance sheet shall be accompanied by the report of the Board as to the state and condition of the Bank, and as to the amount which the Board recommends to be paid by way of dividend to the share- holders, and the amount (if any) which the Board proposes to carry to re- serve. The report and balance sheet shall be signed by three Directors and countersigned by the Chief Manager and the Chief Accountant.
Audit.
146. Once at least in every year the accounts of the Bank shall be examined, and the correctness of the profit and loss account and balance sheet ascertained by two or more auditors.
147(1) The shareholders shall at each ordinary yearly general meeting appoint at least two auditors to hold office until the next ordinary yearly general meeting. Every retiring auditor shall, if qualified, be eli gible for re-election.
(2) If an appointment of auditors is not made at an ordinary yearly general meeting, the Board shall appoint auditors for the current year, and fix the remuneration to be paid to them by the Bank for their services.
(3) A director or officer of the Bank or a pariner or employee of such director shall not be capable of being appointed auditor of the Bank.
(4) A person, other than a retiring auditor, shall not be capable of being appointed auditor at an ordinary yearly general meeting unless notice of an intention to nominate that person to the office of auditor has been given in writing by a shareholder to the Chief Manager of the Bank not less than fourteen days before the ordinary yearly general meeting, and the Bank shall send a copy of any such notice to the retiring auditor, and shall give notice thereof to the shareholders, by advertisement in an English news- paper 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 auditors, 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.
Copy of report and
balance sheet to be sent to Governor.
Frofit and
loss Account and auditors'
report to be laid before general meeting.
annual
Annual
report
and balance
sheet.
Accounts to
be audited yearly.
Appoint- ment and
remunera-
tion of auditors.
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