Section 312, The Companies Act, 2009

(1) A company may, at a general meeting of which noticehas been served on the auditor by ordinary resolution remove an auditor before the expiration of his term of office, notwithstanding anything in any agreement between the company and the auditor. (2) Where a resolution removing an auditor is passed at a general meeting of a company, the company shall, within 14 days give notice in writing of the fact to the Commission and if a company fails to give the notice required by this subsection the company and every officer who is in default shall be guilty of an offence and be liable to a daily default fine of Le500,000. (3) Nothing in this section shall be taken as depriving a person removed under it of compensation or damages payable to him in respect of the termination of his appointment as auditor or of any appointment terminating with that as auditor. Auditors’ duties and powers. Removal of 238 239