(1) A supervisory authority may impose a requirement in writing on an authorised investment business firm -
(a) to notify the supervisory authority at least 15 days -
(i) before notices are sent to shareholders concerning the proposed appointment or re-appointment of a person to the office of auditor of an authorised investment business firm for the purposes of the Companies Acts, or
(ii) before the directors of an authorised investment business firm fill any casual vacancy in the office of auditor by virtue of section 160 (7) of the Companies Act, 1963,
of the name of the person to be so proposed, to be re-appointed or to fill that vacancy,
(b) to supply, within such period of time as the supervisory authority shall state, such information as it may request concerning the person named for the purpose of paragraph (a) of this subsection.
(2) Where a supervisory authority is of the opinion that it would not be in the best interest of investors or in the interests of the proper and order
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