Auditors
34. (1) The owners at their first meeting shall appoint one or more auditors to hold office until the close of the next annual meeting and, if the owners fail to do so, the board shall forthwith make such appointment or appointments. Idem (2) The owners shall at each annual meeting appoint one or more auditors to hold office until the close of the next annual meeting and, if an appointment is not so made, the auditor in office continues in office until a successor is appointed. Casual vacancy (3) The directors may fill any casual vacancy in the office of auditor, but, while such vacancy continues, the surviving or continuing auditor, if any, may act. Removal of auditor (4) The owners may, by resolution passed by a majority of the votes cast at a meeting duly called for that purpose, remove an auditor before the expiration of the auditor’s term of office, and shall by a majority of the votes cast at that meeting appoint another auditor for the remainder of the auditor’s term. Notice to auditor (5) Before calling a meeting for the purpose of removing an auditor, the corporation shall, fifteen days or more before the giving of the notice of the meeting, give to the auditor, (a) written notice of the intention to call the meeting, specifying therein the date on which the notice of the meeting is proposed to be mailed; and (b) a copy of all material proposed to be sent to owners in connection with the meeting. Right of auditor to make representations (6) An auditor has the right to make to the corporation, three days or more before the mailing of the notice of the meeting, representations in writing, concerning, (a) the proposed removal of the auditor; (b) the appointment or election of another person to fill the office of auditor; or (c) the resignation of the auditor, and the corporation, at its expense, shall forward with the notice of the meeting, a copy of such representations to each person entitled to receive notice of the meeting. Remuneration (7) The remuneration of an auditor appointed by the owners shall be fixed by the owners, or by the board if it is authorized so to do by the owners, and the remuneration of an auditor appointed by the board shall be fixed by the board. Appointment by court (8) If for any reason no auditor is appointed, the Ontario Court (General Division) may, on the application of an owner, appoint one or more auditors to hold office until the close of the next annual meeting and may fix the remuneration to be paid by the corporation for the services of the auditor or auditors. Notice of appointment (9) The corporation shall give notice in writing to an auditor of the auditor’s appointment forthwith after the appointment is made. Persons disqualified as auditors (10) No person shall be appointed or act as auditor of a corporation who is a director, officer, employee or manager of the corporation, has an interest in contracts of the corporation, or is a partner, employer or employee of any director, officer, employee or manager of the corporation. Where section does not apply (11) This section does not apply to a corporation where the property consists of less than twenty-five units for residential purposes. R.S.O. 1990, c. C.26, s. 34.