Banks Act, 1990 (Act No. 94 of 1990)Chapter V : Functioning of Banks and Controlling Companies with reference to Companies Act62. Appointment of auditor by Authority |
[Section 62 heading substituted by section 290, item 15 in Schedule 4, of Act No. 9 of 2017]
| (1) | If a bank for any reason fails to appoint an auditor the Authority may, notwithstanding the provisions of sections 90 and 91 of the Companies Act, make the necessary appointment. |
[Section 62(1) substituted by section 31 of Act No. 22 of 2013]
| (2) | A person appointed under subsection (1) as auditor of a bank shall be deemed to have been so appointed by that bank. |
[Section 62(2) substituted by section 25(b) of Act No. 9 of 1993]