- At each Annual General Meeting of the Company, the Company shall appoint an Hon. Auditor to hold office until the following Annual General Meeting, at which he shall be eligible for reappointment and so on from year to year. Any casual vacancy in the office of Hon. Auditor may be filled by the Board.
- A Statement of Accounts shall be prepared annually and shall be presented to the Board, and, if approved, signed by two members of the Board.
- The Hon. Auditor shall have a right of access to the books, accounts, correspondence, documents and vouchers of the Company, and he shall be entitled to require from the Board such information and explanation as may be necessary for the performance of the duties of the Hon. Auditor.
- The Hon. Auditor shall make a report to the shareholders of the Company on the Statement of Accounts, as aforesaid, which is presented to the Annual General Meeting and the report shall state whether or not he has obtained all the information and explanations he has required and whether, in his opinion, the Statement of Accounts referred to in his report is correct according to the best of his information and the explanations given to him and as shown by the books of the Association. The Hon. Auditor shall sign his said report, and the said report shall be annexed to the Statement of Accounts to which it relates.
- The Hon. Auditor shall not be eligible to be elected to the Board so long as he is Hon. Auditor, and no member of the Board shall be eligible to be appointed Hon. Auditor. So long as he is a member of the Board.