S.L. 234.42 Art. 91Resignation of auditor.

(1) An auditor of a company may resign his office by depositing a notice in writing to that effect at the company’s registered office and he shall so resign if he ceases to be qualified as an auditor or if he fails to satisfy the conditions of qualification provided in regulation 86. The notice shall not be effective unless it is accompanied by the statement required by regulation 93.

(2) An effective notice of resignation shall operate to bring the auditor’s term of office to an end as of the date on which the notice is deposited or on such later date as may be specified in it.

(3) The company shall within fourteen days of the deposit of a notice of resignation send a copy of the notice to the Registrar for registration. If default is made in complying with 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.