Clause 22

Section 207 of the Companies Act is amended by inserting, immediately after subsection (9), the following subsections:“(9A) Notwithstanding subsection (9), if an auditor of a company, in the course of the performance of his duties as auditor, has reason to believe that an offence involving fraud or other dishonesty is being or has been committed by officers or employees of the company, he shall immediately report the matter to the Minister.(9B) No duty to which an auditor of a company may be subject shall be regarded as having been contravened by reason of his reporting the matter referred to in subsection (9A) in good faith to the Minister”.