Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

Does subsection (4) not apply in the event that an annual general meeting is dispensed with? Subsection (4) only deals with cases where an AGM is dispensed with and provides that in such circumstances "any auditor or auditors appointed in accordance with subsection (2) or (3) cease to hold office and the directors shall immediately reappoint the auditor or auditors or appoint a new auditor or auditors". This is fine, but it applies to cases where an AGM takes place, whereas subsection (5) applies to circumstances where an AGM does not take place, in which case the directors are empowered to appoint an auditor or auditors.