462. Appointment Of Auditors Of Public Company: Default Power Of Board

(1) If a public company fails to appoint an auditor or auditors in accordance with section 461 (appointment of auditors of public company: general), the Registrar may appoint one or more persons to fill the vacancy.
(2) Where subsection (2) of that section applies and the company fails to make the necessary appointment before the end of the accounts meeting, the company must within one week of the end of that meeting give notice to the Registrar of its power having become exercisable.
(3) If a company fails to give the notice required by this section, a contravention of these Regulations is committed by–
(a) the company, and
(b) every officer of the company who is in default.
(4) A person who commits the contravention referred to in subsection (3) shall be liable to a fine of up to level 5.