Companies Act 1967 · 2020 Revised Edition · Part 6 · Financial Statements and Audit
205AB. Resignation of auditor of public interest company or subsidiary company of public interest company
Last amended by an amending law of 2014.
Official textFrom Singapore Statutes Online, unchanged
An auditor of a public interest company, or a subsidiary company of a public interest company, may by giving the company a notice of resignation in writing, resign before the end of the term of office for which the auditor was appointed, if —
company
“company” means a company incorporated under this Act or under any corresponding previous written law;
the auditor has applied for consent from the Registrar to the resignation and provided a written statement of the auditor’s reasons for resigning and, at or about the same time as the application, notified the company in writing of the application to the Registrar and provided the company with the written statement of the auditor’s reasons for resigning; and
the consent of the Registrar has been given.
The Registrar must, as soon as practicable after receiving the application from an auditor under subsection (1), notify the auditor and the company whether it consents to the resignation of the auditor.
Registrar
“Registrar” means the Registrar of Companies appointed under this Act and includes any Deputy or Assistant Registrar of Companies;
A statement made by an auditor in an application to the Registrar under subsection (1)(a) or in answer to an inquiry by the Registrar relating to the reasons for the application —
is not admissible in evidence in any civil or criminal proceedings against the auditor; and
subject to subsection (4), may not be made the ground of a prosecution, an action or a suit against the auditor,and a certificate by the Registrar that the statement was made in the application or in the answer to the inquiry by the Registrar is conclusive evidence that the statement was so made.
Despite subsection (3), the statement referred to therein may be used in any disciplinary proceedings commenced under the Accountants Act 2004 against the auditor.
The resignation of an auditor of a public interest company, or subsidiary company of a public interest company, takes effect —
subsidiary company
“subsidiary company” means a company that is a subsidiary as defined in the Accounting Standards;
on the day (if any) specified for the purpose in the notice of resignation;
on the day on which the Registrar notifies the auditor and the company of the Registrar’s consent to the resignation; or
on the day (if any) fixed by the Registrar for the purpose,whichever last occurs.
Terms defined in this Act
company
Defined · s 4“company” means a company incorporated under this Act or under any corresponding previous written law;
Registrar
Defined · s 4“Registrar” means the Registrar of Companies appointed under this Act and includes any Deputy or Assistant Registrar of Companies;
subsidiary company
Defined · s 209A“subsidiary company” means a company that is a subsidiary as defined in the Accounting Standards;
Part 7
Arrangements, Reconstructions and Amalgamations
Part 8
Part 8A
Part 9
Investigations
Part 10
Dissolution
Part 10A
Transfer of Registration
Part 11
Various Types of Companies, Etc.
Part 11A
Register of Controllers, Nominee Directors and Nominee Shareholders of Companies
Part 12