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requisition for a meeting under section 46 within 30 days after it gives notice of the joint rule to

its owners, the joint rule is not effective until 30 days after the board of each corporation has

given notice of the joint rule to its owners. 1998, c. 19, s. 59 (9).

Same, previous rule

(10)

A joint rule or an amendment to a joint rule that has substantially the same purpose or

effect as a joint rule that the owners have previously amended or repealed within the preceding

two years is not effective until the owners of each corporation approve it, with or without

amendment, at a joint meeting of owners of the corporations or at a meeting of owners of each

corporation duly called for that purpose. 1998, c. 19, s. 59 (10).

A

UDITORS

AND

F

INANCIAL

S

TATEMENTS

Appointment of auditor

60. (1)

At their first meeting, the owners shall appoint one or more persons qualified to be

auditors to hold office as auditors until the close of the next annual general meeting and, if the

owners do not do so, the board shall make the necessary appointments as expeditiously as

possible. 1998, c. 19, s. 60 (1).

Same, subsequent years

(2)

At each annual general meeting, the owners shall appoint one or more persons

qualified to be auditors to hold office as auditors until the close of the next annual general

meeting and, if the owners do not do so, the auditor in office continues in office until a successor

is appointed. 1998, c. 19, s. 60 (2).

Appointment by court

(3)

If for any reason no auditor is appointed as required by this section, the Superior Court

of Justice may, on the application of an owner,

(a) appoint one or more persons qualified to be auditors to hold office as auditors until the

close of the next annual general meeting;

(b) fix the remuneration that the corporation shall pay for the services of the auditor who

is appointed; and

(c) fix the amount that the corporation shall pay to the owner for the cost of the

application. 1998, c. 19, s. 60 (3); 2000, c. 26, Sched. B, s. 7 (5).

Notice of appointment

(4)

The corporation shall give notice in writing to an auditor of the appointment

immediately after the appointment is made. 1998, c. 19, s. 60 (4).

Exception

(5)

The owners of a corporation shall not appoint auditors under subsection (2) at an

annual general meeting if,

(a) a turn-over meeting has been held under section 43;

(b) the corporation consists of fewer than 25 units; and

(c) as of the date of the meeting, all the owners consent in writing to dispense with the

audit mentioned in subsection 67 (1) until the next annual general meeting. 1998,

c. 19, s. 60 (5).