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AA-1.5.4

Article 217(c) of the Commercial Companies Law prohibits an auditor from (i) being the chairman or a member of the Board of DirectorsG of the licenseeG he/she audits; (ii) holding any managerial position in the licenseeG he/she audits; and (iii) acquiring any shares in the licenseeG he/she audits, or selling any such shares he/she may already own, during the period of his audit. Furthermore, the auditor must not be a relative (up to the second degree) of a person assuming management or accounting duties in the licensee.

Amended: October 2012
October 2010
 Versions
(2 Versions)
 
Oct 1 2010 - Sep 30 2012Oct 1 2012 onwards
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