Section 203 — Companies Act 1993: Auditor not seeking reappointment or resigning

203 Auditor not seeking reappointment or resigning (1) If an auditor gives the board of a company written notice that he or she does not wish to be reappointed or of his or her resignation, the board must, if requested to do so by that auditor,— (a) distribute, as soon as practicable, to all shareholders, at the expense of the company, a written statement of the auditor's reasons for his or her wish not to be reappointed or for his or her resignation; or (b) permit the auditor or his or her representative to explain at a shareholders' meeting the reasons for his or her wish not to be reappointed or for his or her resignation. (2) An auditor is entitled to be paid by the company reasonable fees and expenses for making the representations to shareholders. The heading to section 203 was amended, as from 15 April 2004, by section 11(1) Companies Amendment Act (No 2) 2004 (2004 No 24) by inserting the words “ or resigning ” . Subsection (1) was substituted, as from 15 April 2004, by section 11(2) Companies Amendment Act (No 2) 2004 (2004 No 24).