Cap. 168 Art. 140Appointment and remuneration of auditors.

(1) 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) Where at an annual general meeting no auditors are appointed, the vacancy shall be filled by the Judge of the Civil Court, First Hall, on an application made by any of the directors or by any member of the company, and the auditors so appointed shall general meeting, and auditors so appointed shall hold office until the conclusion of that meeting, unless they are previously removed and others are appointed in their place by the company in a general meeting.

(4) The directors may fill any casual vacancy in the office of an auditor, but while any such vacancy continues the surviving or continuing auditor or auditors, if any, may act.

(5) The remuneration of the auditors of a company -

(a) in the case of an auditor appointed by the directors or by the Judge of the Civil Court, First Hall, may be fixed by the directors or by the Judge, as the case may be;

(b) subject to the foregoing paragraph, 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-article, any sum paid by the company in respect of the auditor’s expenses shall be deemed to be included in the expression "remuneration".