Stock Exchange Act, 1995
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PART V Auditors | ||
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Appointment of auditor. |
33.—(1) The Bank may impose a requirement in writing on any approved stock exchange or authorised member firm— | |
(a) to notify the Bank at least 15 days— | ||
(i) before notices are sent to shareholders concerning the proposed appointment or reappointment of a person to the office of auditor of an approved stock exchange or authorised member firm for the purposes of the Companies Acts, or | ||
(ii) before the directors of an approved stock exchange or authorised member firm fill any casual vacancy in the office of auditor by virtue of section 160 (7) of the Companies Act, 1963 , | ||
of the name of the person to be so proposed, to be reappointed or to fill that vacancy, | ||
(b) to supply, within such period of time as the Bank shall state, such information as it may request concerning the person named for the purpose of paragraph (a) of this subsection. | ||
(2) Where the Bank is of the opinion that it would not be in the interest of investors or in the interest of the proper and orderly regulation of approved stock exchanges and their member firms, it may direct, as the circumstances require, that an approved stock exchange or an authorised member firm does not appoint or reappoint to the office of auditor, or that the directors do not fill a casual vacancy in the office with, a named person and the direction shall be complied with. | ||
(3) Where the Bank gives a direction under subsection (2) of this section that an approved stock exchange or authorised member firmshall not reappoint a person to the office of auditor, that person may apply to the Court for an order to set aside the direction of the Bank. |