No person shall act as auditor of a corporation if the person,
(a) is a director, officer or employee of the corporation;
(b) is a manager under an agreement for the management of the property of the
(c) has an interest in a contract to which the corporation is a party; or
(d) is a partner, employer or employee of a person mentioned in clause (a) or (b). 1998,
c. 19, s. 61.
The remuneration of an auditor shall be fixed,
(a) by the owners if the auditor is appointed by the owners; or
(b) by the board if authorized by the owners to do so or if the auditor is appointed by the
board. 1998, c. 19, s. 62.
The owners may remove an auditor before the expiration of the auditor’s term of
office at a meeting duly called for that purpose. 1998, c. 19, s. 63 (1).
If the owners remove an auditor under subsection (1), they shall, at the same meeting,
appoint a person qualified to be an auditor to act as auditor for the remainder of the term of the
auditor who was removed. 1998, c. 19, s. 63 (2).
The removal of an auditor and the appointment of an auditor under subsection (2)
requires the approval of the majority of votes cast by the owners who are present at the meeting
in person or by proxy. 1998, c. 19, s. 63 (3).
Notice to auditors(4)
At least 30 days before giving the owners notice of a meeting for the purpose of
removing an auditor, the person calling the meeting shall give to the auditor,
(a) written notice of the intention to call the meeting, specifying the date on which the
notice of the meeting is proposed to be mailed;
(b) a statement of the name of the auditor who is proposed to be removed and the reasons
for the removal; and
(c) a copy of all material proposed to be sent to the owners in connection with the
meeting. 1998, c. 19, s. 63 (4).
Right to make representations(5)
An auditor may make written representations to the corporation concerning the
proposed removal of the auditor or the appointment of another person to fill the office of auditor.
1998, c. 19, s. 63 (5).
In order to make representations under subsection (5), an auditor shall send them to the