COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 153 Appointment and remuneration of auditors.

	[Home] [Databases] [World Law] [Search] [Feedback]
	Northern Irish Legislation
You are here: BAILII >> Databases >> Northern Irish Legislation >> COMPANIES ACT (NORTHERN IRELAND) 1960

[Index] [Table] [Search] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 153

Appointment and remuneration of auditors.

153.(1) Subject to sub-section (2), every company shall at each annual general
meeting appoint an auditor or auditors to hold office from the conclusion of
that, until the conclusion of the next, annual general meeting.

(2) Subject to sub-section (3), at any annual general meeting a retiring
auditor, however appointed, shall be reappointed without any resolution being
passed unless

(a)he is not qualified for reappointment; or

(b)a resolution has been passed at that meeting appointing somebody instead of
him or providing expressly that he shall not be reappointed; or

(c)he has given the company notice in writing of his unwillingness to be
reappointed.

(3) Where notice is given of an intended resolution to appoint some person or
persons in place of a retiring auditor, and by reason of the death, incapacity
or disqualification of that person or of all those persons, as the case may
be, the resolution cannot be proceeded with, the retiring auditor shall not be
automatically reappointed by virtue of sub-section (2).

(4) Where at an annual general meeting no auditors are appointed or
reappointed, the Ministry may appoint a person to fill the vacancy.

(5) The company shall, within one week of the Ministry's power under
sub-section (4) becoming exercisable, give the Ministry notice of that fact,
and, if a company fails to give notice as required by this sub-section,
the company and every officer of the company who is in default shall be liable
to a default fine.

(6) Subject as hereinafter provided, the first auditors of a company may be
appointed by the directors at any time before the first annual general
meeting, and auditors so appointed shall hold office until the conclusion of
that meeting, so, however, that

(a)the company may at a general meeting remove any such auditors and appoint
in their place any other persons who have been nominated for appointment by
any member of the company and of whose nomination notice has been given to the
members of the company not less than fourteen days before the date of the
meeting; and

(b)if the directors fail to exercise their powers under this sub-section,
the company in general meeting may appoint the first auditors, and thereupon
the said powers of the directors shall cease.

(7) The directors 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.

(8) The remuneration of the auditors of a company

(a)in the case of an auditor appointed by the directors or by the Ministry,
may be fixed by the directors or by the Ministry, as the case may be;

(b)subject to paragraph (a), shall be fixed by the company in general meeting
or in such manner as the company in general meeting may determine.

For the purposes of this sub-section, any sums paid by the company in respect
of the auditors' expenses shall be deemed to be included in the term
"remuneration".][

[Index] [Table] [Search] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

BAILII: Copyright Policy | Disclaimers | Privacy Policy | Feedback
URL: http://www.bailii.org/nie/legis/num_act/cai1960267/s153.html

Northern Irish Legislation

COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 153