Section 7
Amendment of section 264
of Companies (Amendment) Act 2024
Amendment ActIn forceProvision 7 of 39
Section 7
Section 264 of the principal Act is amended by inserting after subsection (4) the following subsections:
“(4a) Notwithstanding paragraph (4)(b), no partner of the firm is disqualified by reason of his spouse being an officer of the company, if such reason does not compromise the independence of the auditor and the firm of auditors.
(4b)
The Registrar may issue guidelines for the purpose of determining the independence of the auditor and the firm of auditors.”.