Section 201 — Companies Act 1993: Appointment of first auditor

201 Appointment of first auditor (1) The first auditor of a company may be appointed by the directors of the company before the first annual meeting, and, if so appointed, holds office until the conclusion of that meeting. (2) If the directors do not appoint an auditor under subsection (1) of this section, the company must appoint the first auditor at a meeting of the company. (3) Neither the directors nor the company need appoint an auditor in accordance with this section if a unanimous resolution is passed by the company that no auditor be appointed. Such a resolution ceases to have effect at the commencement of the first annual meeting. (4) Nothing in subsection (3) of this section applies to a company referred to in section 196(3) of this Act. Compare: 1955 No 63 s 163(4)