Clause 125

by deleting the words “a person or persons” in subsections (1) and (2) and substituting in each case the words “an accounting entity or accounting entities”;

by deleting subsection (3) and substituting the following subsection:“(3) Subject to subsections (7) and (8) and section 205AF, the directors may appoint an accounting entity to fill any casual vacancy in the office of auditor of the company, but while such a vacancy continues the surviving or continuing auditor or auditors, if any, may act.”;

by deleting the words “another person” in subsection (7)(a) and (b) and substituting in each case the words “another accounting entity”;

by deleting the words “a person” in subsection (7)(b) and substituting the words “an accounting entity”;

by deleting the words “the Registrar shall” in subsection (8) and substituting the words “the Registrar may”;

by deleting subsection (11) and substituting the following subsection:“(11) Subject to subsection (7), an accounting entity shall not be capable of being appointed auditor of a company at an annual general meeting unless it held office as auditor of the company immediately before the meeting or notice of its nomination as auditor was given to the company by a member of the company not less than 21 days before the meeting.”;

by deleting the words “a person” in subsections (12) and (13) and substituting in each case the words “an accounting entity”;

by deleting the words “the person” in subsections (12) and (13) and substituting in each case the words “the accounting entity”;

by deleting subsections (14) and (15); and

by inserting, immediately after the words “appointed by the directors or by the Registrar” in subsection (16)(b), the words “under this section or under section 205AF”.