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Company Law Reform Bill [HL]

moved Amendment No. 334CA:"Page 244, line 24, leave out from beginning to ““, any”” and insert ““If an auditor ceases to hold office for any reason””" The noble Baroness said: The amendment is intended to make some sense of Clause 511. The clause states:"““During a casual vacancy in the office of auditor, any surviving or continuing auditor or auditors may continue to act””." However, if there are surviving or continuing auditors, how can there be a vacancy, casual or otherwise? What is meant by the term ““casual””? The clause would be more naturally drafted as follows:"““If an auditor ceases to hold office for any reason, any surviving or continuing auditor or auditors may continue to act””." That is what Amendment No. 334CA would do. I am aware that the wording goes back a long way in company law, but we are entitled to challenge whether the wording in the Bill before us is appropriate or effective in today’s world. I beg to move.