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Changes over time for: Section 487


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Version Superseded: 17/06/2016
Status:
Point in time view as at 06/04/2015. This version of this provision has been superseded.

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Changes to legislation:
Companies Act 2006, Section 487 is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

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487Term of office of auditors of private companyU.K.
This section has no associated Explanatory Notes
(1)An auditor or auditors of a private company hold office in accordance with the terms of their appointment, subject to the requirements that—
(a)they do not take office until any previous auditor or auditors cease to hold office, and
(b)they cease to hold office at the end of the next period for appointing auditors unless re-appointed.
(2)Where no auditor has been appointed by the end of the next period for appointing auditors, any auditor in office immediately before that time is deemed to be re-appointed at that time, unless—
(a)he was appointed by the directors, or
(b)the company's articles require actual re-appointment, or
(c)the deemed re-appointment is prevented by the members under section 488, or
(d)the members have resolved that he should not be re-appointed, or
(e)the directors have resolved that no auditor or auditors should be appointed for the financial year in question.
(3)This is without prejudice to the provisions of this Part as to removal and resignation of auditors.
(4)No account shall be taken of any loss of the opportunity of deemed re-appointment under this section in ascertaining the amount of any compensation or damages payable to an auditor on his ceasing to hold office for any reason.
Modifications etc. (not altering text)
Commencement Information
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