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(2) The Commissioner may appoint another auditor to act with the auditor appointed under sub- section (1), and may at any time, whether or not the appointment has terminated, fix the remuneration to be paid by the bank to such auditor.
(3) The duties of the auditor appointed under subsection (1) or of the auditors appointed under sub- sections (1) and (2), as the case may be, shall be-
(a) to carry out for the year in respect of which be or they is or are appointed an audit of the accounts of the bank;
(8) to make a report to the shareholders, or in the case of an unincorporated body to the directors, of the bank upon the audited accounts and the annual balance sheet of the bank; and
(c) in every such report to state-
(1) whether or not all the information and explanations which were, in the opinion of the auditor or either of the two auditor, necessary for the purposes of the audit have been obtained;
(ii) whether or not, according to the best of the information and explanations given. to him or them, the balance sheet referred to in the report gives, in his or their opinion, a true and fair view of the state of the affair of the bank at the date of the balance sheet. regard being had, inter alia, to the provisions of this Ordinance:
(iii) whether or not, in his or their opinion, proper books of accoum have boo kept by the bank so far as appears from the audit of the accounts; and
(iv) whether or not, in his or their opinion, proper returns, adequate for the purposes of the audit, have been received by him or them from branches not visited. (4) In the case of a bank which is a company limited by shares or limited by guarantee and having a share capital
(a) there shall be read annually at a general meeting of the shareholders the report of the
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auditor or auditors made pursuant to para- graph (b) of subsection (3); and
(b) there shall be laid annually before a general meeting of the shareholders a report by the directors containing the several particulars required by subsection (2) of section 122 of the Companies Ordinance.".
37. Section 37 of the principal Ordinance is amended by- (a) deleting paragraph (a) of subsection (1) and substituting
the following-
*(a) a copy of its latest audited annual balance sheet, and any notes thereon, copy of the profit and loss account and a copy of the report of the auditor or auditors made pursuant to paragraph (b) of subsection (3) of section 36;";
(6) deleting "Financial Secretary, through the Commis- sioner," in subsection (2) and substituting the following—
"Commissioner";
(c) deloting subsection (3) and substituting the following-
"(3) The documents sent to the Commissioner pursuant to subsection (2) shall be accompanied, in the case of a bank which is a company limited by shares or limited by guarantee and having a share capital, by a copy of the report of the directors laid before a general meeting of the shareholders of the company pursuant to paragraph (b) of subsection (4) of section 36.";
(c) deleting "Financial Secretary" in subsections (4) and (5) in each place where they occur and substituting the following in each case-
"Commissioner"; and
(e) inserting the following new subsection after subsection
(5)
"(6) The annual balance sheet of a bank, copies of which are required by subsection (1) to be published and exhibited, shall be in such form as the Commissioner may approve.".
38. Section 38 of the principal Ordinance is amended by- (a) deleting "Financial Secretary" in each place where those words occur therein and subatiuning the following in each case
"Commissioner": and
Amendment
of section 37.
Amendment
of section 38.