Clause 48

Section 206 of the Companies Act is amended by inserting, immediately after subsection (1), the following subsection:“(1A) Without prejudice to subsection (1), a public company shall, under prescribed circumstances, undertake a review of the fees, expenses and emoluments of its auditor to determine whether the independence of the auditor has been compromised, and the outcome of the review shall be sent to all persons entitled to receive notice of general meetings of the company.”.