Companies Act 2014 section 383

Subsequent appointments of statutory auditors (including provision for automatic re-appointment of auditors at annual general meetings)

Section 383 deals with how statutory auditors are appointed at annual general meetings and the circumstances in which a retiring auditor is automatically re-appointed or not re-appointed.

• A company must appoint statutory auditors at each annual general meeting, to serve from the end of that meeting until the conclusion of the next
• A retiring auditor is automatically re-appointed unless they are unqualified, replaced by resolution, or have notified the company in writing that they do not wish to be re-appointed
• If a resolution to appoint a replacement auditor cannot proceed due to the proposed replacement's death, incapacity or disqualification, the retiring auditor is not automatically re-appointed
• Where members have signed a resolution relieving the company of the obligation to hold an annual general meeting, the retiring auditor is deemed re-appointed as of the date the last member signed that resolution