(1) An auditor of a public company shall be appointed for each financial year of the company.
(2) Notwithstanding subsection (1), the Board shall appoint an auditor—
\(a\) at any time before the first annual general meeting of the company; or
\(b\) to fill casual vacancy in the office of the auditor.
(3) Any auditor appointed under subsection (2) shall hold office until the conclusion of—
\(a\) the first annual general meeting for the appointment under _paragraph 2\(a\)_; or
\(b\) the next annual general meeting for the appointment under _paragraph 2\(b\)_.
(4) The members shall appoint an auditor by ordinary resolution—
\(a\) at the annual general meeting;
\(b\) if the company should have appointed an auditor at an annual general meeting but failed to do so;
or
\(c\) if the Board fails to appoint an auditor under _subsection \(2\)_.
(5) An auditor of a public company should only be appointed in accordance with subsection (2) or (4).
(6) The company and every officer who contravene this section commit an offence.