Part 6 — Management and Administration Division 1 Membership
134 Exemption from audit requirements
shareholders of a company that
(a) is not offering its securities to the public,
(b) has 5 or fewer shareholders, and
(c) has assets not exceeding $500 000 and sales and gross
operating revenues not exceeding $1 000 000, as shown on
the financial statement of the company for the preceding
year,
consent in writing, the company is exempt from sections 131 to
133 in respect of the year in which the consent is given.
RSA 2000
(2) Subsection (1) does not apply to a subsidiary company unless
its holding company is exempted under subsection (1) at the time
the consent of the shareholders is given.
RSA 1980 cC-20 s134