Article 85 - Resignation of an Auditor

(1) An auditor of an Investment Club may resign from office by depositing a notice in writing to that effect at the Investment Club's registered office, and any such notice operates to bring his term of office to an end on the date on which the notice is deposited, or on such later date as may be specified in it.
(2) When an auditor ceases for any reason to hold office the auditor must deposit at the Investment Club's registered office:
a. a statement of any circumstances connected with his ceasing to hold office which he considers should be brought to the notice of the Members or creditors of the Investment Club; or
b. if he considers that there are no such circumstances a statement that there are none.
(3) Where a statement under this Article 85 falls within Article 85(2)(a), the Investment Club must within 21 days send a copy of the statement to each director and Member of the Investment Club.
(4) The Investment Club must as soon as reasonably practicable and in any event not later than 7 days after the deposit of notice of resignation at its registered office, file a copy of the notice with the CRO in the Prescribed Form together with the Prescribed Fee.
Derived (as from 20th December 2016).