Rule 5 - Application for exemption. - Companies (Branch Audit Exemption) Rules, 1961

Application for exemption. 05. (1) Every application for exemption under rule 4 shall be made by the company in the form set out in the Annexure to these Rules and shall be accompanied by a treasury challan in token of payment of the fee prescribed thereof under section 637A of the Act; the fee shall be credited to the Head "XXI Miscellaneous Departments Miscellaneous Registration of Joint Stock Companies": Provided that, except in cases where the relevant financial year for which exemption is sought closes on or before the 31st of March, 1961, no application for exemption shall be made unless the company has by ordinary resolution passed at a general meeting approved the proposal to apply for such exemption. (2) An application for exemption on the ground mentioned in clause (b) of sub-rule (1) of rule 4 shall be accompanied by (a) a certificate signed by the [1] [* * *] managing director or manager of the company, as the case may be, to the effect that arrangements have been made for the audit of the accounts of the branch office as specified in clause (b) of sub-rule (1) of rule 4; and (b) a written statement from the auditor of the company that, in his opinion, arrangements made for the audit of the accounts of the branch office are adequate and that the arrangements made for the keeping of the accounts of the branch office are such as would enable the person auditing the accounts to certify that they show a true and fair view of the working of the branch office. ---------------------------------------- Notes:- [1] Redundant after abolition of the system of managing agents.