Company Law Reform Bill [HL]

Clause 551 deals with casual vacancies in the office of auditor. If there have been joint auditors, any surviving or continuing auditor or auditors may continue to act. As was explained, Amendment No. 334CA would do away with the phrase ““casual vacancy””. I have listened to the explanation of the suggested replacement—so my notes say—but I am not convinced. There is no ambiguity in the phrase ““casual vacancy””. It appears in the existing Act, as well as in Clauses 152(3), 470(3)(c) and 475(3)(c). We can and should retain it in the Bill. If it were to give rise to a degree of uncertainty, which we have not recognised, our view might be different, but it is an existing term which, so far as I am aware, has not generated any difficulties in its current application.