Companies Act (Cap. 386), article 160

160. (1) The provisions of this article shall apply where an auditor’s notice of resignation is accompanied by a statement o f circumstances which he consid ers should be brought to the attention of members or creditors of the company. (2) The resigning auditor may deposit with the notice a signed requisition calling on the directors of the company forthwith d uly to convene an extraordinary general meeting of the company for the purpose of receiving and conside ring such explanation of the circumstances connected with his resignation as he may wish to place before the meeting. (3) The resigning auditor may request the company to circulate to its members - (a) before the meeting conven ed on his requisition; or (b) before any general meeting at which his term of office would otherwise have expired or at which it is proposed to fill th e vacancy caused by his resignation; a statement in writing of the c ircumstances connected with his resignation as referred to in sub-article (1). (4) The company shall, unless the statement is received too late for it to comply - (a) in any notice of the meeting given to members of the c o m p a n y , s t a t e t h e f a c t o f t h e s t a t e m e n t h a v i n g b e e n made; and (b) send a copy of the statement to every member of the company to whom notice of the meeting is or has been sent. (5) If the directors do not within twenty-one days from the date of the deposit of a requisition under this article proceed duly to convene a meeting for a day not more than twenty-eight days aft er the date on which the notice convening the meeting is given, ev ery director who failed to take all reasonable steps to secure that a meeting was convened as mentione d in sub-article (2) shall be liable to a penalty. (6) If a copy of the statement is not sent out as required because it was received too lat e or because of the company’s default, the auditor may, without prejudice to his right to be heard orally, require that the statement be read out at the meeting. (7) An auditor who has resigned has, notwithstanding his resignation, the rights conferred by article 155 in relation to any such general meet ing of the company as is mentioned in sub-arti cle (3)(a) or ( b), and, in such a case, the references in that article to matters concerning the auditor as auditor shall be construed as references to matters concer ning him as a former auditor. Statement by person ceasing to hold office as auditor.