Companies Auditors Board to continue in existence
18 Companies Auditors Board to continue in existence
Notwithstanding the repeal of sections 8 and 9 of the Companies Act 1962 by this Act, the Companies Auditors Board established by the Companies Act 1962 continues in existence for such period as is necessary for the Companies Auditors Board to complete any inquiry under section 9(9) of the Companies Act 1962 that had been commenced by the Companies Auditors Board but had not been completed before the repeal of sections 8 and 9 of the Companies Act 1962 and the Companies Auditors Board has, for the purposes of completing such an inquiry, all the powers that it would have had if those sections had not been repealed.
Where, pursuant to subsection (1), the Companies Auditors Board completes an inquiry, the Companies Auditors Board shall not exercise any of the powers mentioned section 9(12) of the Companies Act 1962, but shall furnish to the National Companies and Securities Commission a report on the inquiry.
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.