Companies Act (Cap. 386), article 159

159. (1) Without prejudice to the notification obligations in terms of article 17 of the Accountancy Profession Act , an auditor of a company may resign his office by depositing a notice in writi ng to that effect at the company’s registered office. The notice s hall not be effective unless it is acc ompanied by the statement requ ired by article 161. (2) An effective notice of resignation shall operate to bring th e auditor’s term of office to an e nd as of the date on which the notice is deposited or on such later da te as may be specified in it. (3) The company shall within fourteen days of the deposit of a notice of resignation give notice thereof to the Registrar for registration. If default is made in complying with this sub-art icle, every officer of the company who is in default shall be liable to a penalty, and, for every day during which the default continues, to a further penalty. 106 CAP. 386.] COMP ANIES Rights of resigning auditor.