CAP. 70]
The Hongkong and Shanghai Banking Corporation.
[r. 145 cont.] 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.
Auditor
need not be shareholder.
Director
not to be auditor.
Resignation or removal of auditor.
When accounts to be deemed finally settled.
(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 explanations 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 explanations given to them, and as shown by the books and returns of the bank.
146. It shall not be requisite that an auditor be a shareholder, but the auditors may be shareholders, of the bank.
147. If an auditor be appointed a director or other officer or servant of the bank, he shall immediately thereupon cease to be an auditor.
148. Any auditor may resign his office or may be removed from office by a vote of any general meeting or may, subject to the approval of the Governor, be removed by the board.
149. 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.
396
CAP. 70]
The Hongkong and Shanghai Banking Corporation.
[r. 145 cont.] 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.
Auditor
need not be shareholder.
Director
not to be auditor.
Resignation or removal of auditor.
When accounts to be deemed finally settled.
(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 informa- tion and explanations 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 explanations given to them, and as shown by the books and returns of the bank.
146. It shall not be requisite that an auditor be a share- holder, but the auditors may be shareholders, of the bank.
147. If an auditor be appointed a director or other officer or servant of the bank, he shall immediately thereupon cease to be an auditor.
148. Any auditor may resign his office or may be removed from office by a vote of any general meeting or may, subject to the approval of the Governor, be removed by the board.
149. 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. When- ever any such error is discovered within that period, the account shall forthwith be corrected and thenceforth shall be conclusive.
396
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