17817-1910-Supplementary-Bills-read-a-first-time--Companies — Page 44

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copy of any such notice to the retiring auditor, and shall give notice thereof to the shareholders, either by advertise- meut or in any other mode allowed by the articles, not less than seven days before the aummal general meeting:

Provided that if, after a notice of the intention to nomi- nate an auditor has been so given, au amual general meet- ing 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 company may, instead of being sent or given within the time required by this provi- sion, be sent or given at the same time us the notice of the anual general meeting.

(5) The first auditors of the company may be appointed by the diretors before the statutory meeting, and if so appointed shall hold office mutil the first annual general meeting, unless previously removed by a resolution of the shareholders in general meeting, in which case the share- holders at that meeting may appoiur auditors.

(6) The directors may fill any casual vacaney in the office of anditor, but while any such vacancy continues the surviving or continuing auditor or auditors, if any, may act.

(7) The remueration of the auditors of a company shall be fixed by the company in general meeting, except that the remuneration of any auditors appointed before the statutory meeting, or to fill any casual vacancy, may be fixed by the directors.

Powers and

113.-(1) Every auditor of a company shall have a right of access at all times to the books and accounts and vouchers duties of of the company, and shall be entitled to require from the auditors.

8 Edw. 7 c. directors and officers of the company such information and 60s. 113. explanation as may be necessary for the performance of the duties of the auditors.

(2) The au·litors shall make a report to the shareholders 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 inform-

ation 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 according to the best of their information and the explanations given to them, and as shown by the books of the company,

(3) The balance sheer 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 the auditors' report shall be attached to the balance sheet, or there shall be inserted at the foot of the balance sheet a reforcuce to the report, and the report shall be read before the company in general meeting, and shall be open to inspection by any share of fer.

Any shareholder shall be entitled to be furnished with a copy of the balance sheet and auditors' report at a charge not exceeding twenty-five cents for every hundred words."

(4) If any copy of a balance sheet which has not been sigued as required by this section is issued, circulated, or published, or if any copy of a balance sheet is issued, cir- culated, or published without either having a copy of the auditors' report attached thereto or containing sucli reference to that report as is required by this section, the company, and every director, manager, secretary, or other officer of the company who is knowingly a party to the default, shall on conviction be liable to a fine not exceeding five hundred dollars.

(5) In the case of a banking company

(a) if the company has branch bauks beyond the limits of the Colony it shall be sufficient if the auditor is allowed access to such copies of and extracts from the books and accounts of any such branch as have been transmitted to the office of the company in the Colony; and