22

BANK OF KHYBER ACT, 1991 BANK OF KHYBER ACT, 1991 [ACT No. XIV of 1991] [Gazette of N.‑W.F.P. Extraordinary, 20th, June, 1991] An Act to establish the Bank of Khyber in the North‑West Frontier Province 22. Auditors. (1) Not more than two independent auditors who shall be Chartered Accountants shall be elected at the Annual General Meeting and their remuneration fixed. (2) The first auditors of the Bank may be appointed and their remuneration fixed by the Board before the general meeting and if so appointed shall hold office only until the first general meeting. All auditors elected `under this Section shall severally be and continue to act as auditors until the first general meeting after their respective elections: Provided that if any casual vacancy occurs in the office of any auditor elected under this Section, the vacancy may be filled by the Board. The Auditors will submit their Annual Audit Report to the Government.