Branch audit exemption requires prescribed fee and shareholder approval; managing director certificate and auditor statement must accompany application.

Applications for branch audit exemption must use the prescribed form and include the prescribed fee; shareholder approval by ordinary resolution is required unless a transitional closure condition applies. Applications based on alternate audit arrangements must include a managing director or manager's certificate confirming arrangements and an auditor's written statement that the arrangements are adequate and that the branch accounts enable an auditor to certify a true and fair view of the branch's workings.

---

---

---