Companies Act, 1973 (Act No. 61 of 1973)Chapter X: AuditorsAppointment270. Annual appointment of auditor |
| 1) | A company shall at every annual general meeting appoint an auditor or auditors to hold office from the conclusion of that meeting until the conclusion of the next annual general meeting of the company. |
| 2) | A retiring auditor shall be deemed to be reappointed at any annual general meeting without any resolution being passed, unless- |
| a) | he is not qualified for reappointment; or |
| b) | a resolution has been passed under section 278; or |
| c) | he has given the company and the Registrar notice in writing of his unwillingness to be reappointed at the next annual general meeting; |
| d) | an audit committee appointed by the company in terms of section 269A (1) objects to the reappointment; or |
| e) | section 274A(1) applies. |
| 3) | The provisions of subsection (2) shall not apply where notice of an intended resolution to appoint some person or persons in place of a retiring auditor has been duly given under section 279 but cannot be proceeded with by reason of the death, incapacity or disqualification of that person or of all those persons. |