Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
387 Auditor of subsidiaries
that its auditor or, with the permission of the Minister, another
auditor selected by the company, is duly appointed as the auditor of
each of its subsidiaries unless
(a) in the case of a subsidiary that carries on its operations in a
country other than Canada, the laws of that country do not
permit the appointment of the auditor of the provincial
company as the auditor of that subsidiary, or
(b) the provincial company's auditor is of the opinion that the
total assets of the subsidiary are not a material part of the
total assets of the company.
1999 cI-5.1 s387