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The Open-Ended Investment Companies Regulations 2001
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There are currently no known outstanding effects for the The Open-Ended Investment Companies Regulations 2001, Paragraph 4.
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4.—(1) Every company must appoint an auditor or auditors in accordance with this paragraph.U.K.
(2) [F1Subject to sub-paragraphs (6) and (7), a company] must, at each general meeting at which the company’s annual report is laid, appoint an auditor or auditors to hold office from the conclusion of that meeting until the conclusion of the next general meeting at which an annual report is laid.
(3) [F2Subject to sub-paragraph (6), the first] auditors of a company may be appointed by the directors of the company at any time before the first general meeting of the company at which an annual report is laid; and auditors so appointed are to hold office until the conclusion of that meeting.
(4) Where no appointment is made under sub-paragraph (3), the first auditors of any company may be appointed by the company in general meeting.
(5) No rules made under section 340 of the Act (appointment of auditors) apply in relation to open-ended investment companies.
[F3(6) On the date on which the holding of an annual general meeting is dispensed with in accordance with regulation 37A, any auditor or auditors appointed in accordance with sub-paragraph (2) or (3) ceases to hold office and the directors must forthwith re-appoint the auditor or auditors or appoint a new auditor or auditors.]
[F4(7) The directors of any company which does not hold annual general meetings must appoint the auditor or auditors.]
Textual Amendments
F1Words in Sch. 5 para. 4(2) substituted (6.4.2005) by The Open-Ended Investment Companies (Amendment) Regulations 2005 (S.I. 2005/923), regs. 1, 2(9)(a)
F2Words in Sch. 5 para. 4(3) substituted (6.4.2005) by The Open-Ended Investment Companies (Amendment) Regulations 2005 (S.I. 2005/923), regs. 1, 2(9)(b)
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