20388-1911-Ordinance-passed-and-assented-to--Companies-No-58-of-1911 — Page 46

THE HONGKONG GOVERNMENT GAZETTE, DECEMBER 15, 1911.

111 (1) A company may by special resolution appoint rower of inspectors to investigate its affairs,

company to appoint

(2) Tuspectors so appointed shall have the same powers inspectors. and duties as inspectors appointed by the court, except & Edw. 7 c. that, instead of reporting to the court, they shall report in 69 s. 110. such manner and to such persons as the company in general meeting may direct.

(8) Officers and agents of the company shall incur the like penalties in ease of refusal to produce any book or document required to be produced to inspectors so ap- pointed, or to answer any question, as they would have incurred if the inspectors had been appointed by the

court,

b. s. 111.

112. A copy of the report of any inspectors appointed Report of under his Ordinance, authenticated by the send of the inspectors to company whose affairs they have investigated, shall be be evidence. admissible in any legal proceeding as evidence of the opinion of the inspectors in relation to any matter contained in the report.

118.--(1) Every company shall at each auunal general appoint- meeting appoint an auditor or auditors to hold office until met and the next annual general meeting.

remunera- tion of

(2) If an appointment of anditors is not made at an auditors. anual general meeting, the court may, on the application of 76. s. 112. ang member of the company, appoint an auditor or auditors of the company for the current year, and fix the femunera- tion to be paid to him or them by the company for his sør-

vices.

(3) A director or officer of the company or the partner or employee of such director shall not be capable of being appointed auditor of the company.

(4) A person, other than a refiring auditor, shall not be capable of being appointed auditor at an annual gonera! meeting unless notice of an intention to nominate that person to the office of auditor has been given by a share- holder to the company not less than fourteen days before the annual general meeting, and the company shall send a copy of any such notice to the retiring auditor, and shall give notice thereof to the shareholders, either by advertisemem or in any other mode allowed by the articles, not less than seven days before the annual general meeting:

Provided that if, after a notice of the intention to noui- nate an auditor has beeu so given, au annual 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, he sent or given at the same time as the notice of the annual general meeting.

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

(6) The directors may fill any casual vacancy in the office of anditor, but while any such vacancy continues the surviving or continuing auditor or auditors, if any, may a01,

(7) The remuneration 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 ensual vacancy, may le fixed by the directors,

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

1. s. 113. directors 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 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--

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