Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
378 Filling vacancy
vacant, the participating policyholders and shareholders or, if the
bylaws permit, the directors must forthwith fill the vacancy.
(2) An auditor appointed under subsection (1) holds office for the
unexpired term of office of the predecessor auditor.
(3) If a replacement auditor is not appointed in accordance with
subsection (1), the Court may appoint an auditor to hold office for
the unexpired term of the predecessor auditor and fix the
remuneration of the auditor on the application of
(a) a participating policyholder or shareholder of the provincial
company, or
(b) in addition to the persons referred to in clause (a), the
Executive Director under the Securities Act if the provincial
company is a reporting issuer.
1999 cI-5.1 s378