Appointment of auditors: existing companies must meet auditor rotation compliance by first AGM within three year transition period. The Order substitutes the third proviso to section 139(2) to require that every company existing on or before the commencement of the Act which must comply with the auditor rotation provisions shall do so within a period not later than the date of the first annual general meeting of the company held, within the period specified under section 96(1), after three years from the date of commencement of the Act.
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Appointment of auditors: existing companies must meet auditor rotation compliance by first AGM within three year transition period.
The Order substitutes the third proviso to section 139(2) to require that every company existing on or before the commencement of the Act which must comply with the auditor rotation provisions shall do so within a period not later than the date of the first annual general meeting of the company held, within the period specified under section 96(1), after three years from the date of commencement of the Act.
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