S.L. 234.42 Art. 89Removal of auditors.

(1) Notwithstanding anything in a company’s memorandum or articles or in any other agreement, the company may at any time remove an auditor from office in the same manner as that specified in regulation 54(1).

(2) Where a resolution removing an auditor is passed at a general meeting of a company, the company shall within fourteen days give notice thereof to the Registrar for registration. If a company fails to give the notice required by this subregulation, every officer of the company who is in default shall be liable to a penalty and, for every day during which the default continues, to a further penalty.

(3) Nothing in this regulation shall be taken as depriving a person removed under its provisions of compensation for damages payable to him in respect of the termination of his appointment as auditor or of any appointment terminating with that of auditor.

(4) An auditor of a company who has been removed shall have, notwithstanding his removal, the rights conferred by regulation 87 in relation to any general meeting of the company -

(a) at which his term of office would otherwise have expired; or

(b) at which it is proposed to fill the vacancy caused by his removal. In such a case the references in that regulation to matters concerning the auditor as auditor shall be construed as references to matters concerning him as a former auditor.