Section 114
Removal and resignation of auditors
A Labuan company may, at a meeting of members of which special notice has been given to the auditor and the Authority, but not otherwise, remove an auditor from office, but shall, at that meeting at which the auditor is removed or at a meeting of members held within one month thereafter, appoint an approved auditor to take the place of the auditor so removed.
(2)
An auditor of a Labuan company may, if he is not a sole auditor, resign at any time but a sole auditor of a Labuan company may only resign at a meeting of members.
128 Laws of Malaysia ACT 441
(3)
If an auditor gives notice in writing to the directors of a
Labuan company that he desires to resign, the directors shall, as soon as is practicable, call a meeting of members of the company for the purpose of appointing an auditor in place of the auditor who desires to resign, and on the appointment of another auditor, the resignation shall take effect.
(4)
A Labuan company shall, within thirty days of any change in the auditor of the company, lodge with the Authority a notice and the notice shall be accompanied with the consent of the new auditor.
(4)
(Deleted by Act A1367).