moved:
Motion No. 3
That Bill C-2, in Clause 42, be amended by replacing lines 40 to 42 on page 21 with the following:
“appointed for a term of five years by the board of directors, and may be removed at any time by the board of directors for cause.
(1.1) If the board of directors decide to remove the auditor before the auditor's five-year term ends, the board of directors must notify the appropriate provincial Minister of each of the participating provinces giving the reasons for the decision.
(1.2) The auditor may not be removed unless at least two thirds of the participating provinces having in total not less than two thirds of the population of all of the participating provinces has agreed in writing to the removal.
(1.3) An auditor who resigns before the end of the five-year term shall notify the board of directors, the Minister and the appropriate Minister of each of the participating provinces giving the reasons for the resignation and make those reasons available to the public.
(1.4) Where the auditor has resigned or been removed, no person or firm shall accept an appointment or consent to be appointed as auditor until the person or firm has requested and received from the other auditor a written statement of the circumstances and reasons why the other auditor resigned or why, in the other auditor's opinion, the other auditor was removed.
(1.5) Notwithstanding subsection (1.4), a person or firm may accept an appointment or consent to be appointed as auditor if, within fifteen days after a request under that subsection is made, no reply from the other auditor is received.
(1.6) Unless subsection (1.5) applies, an appointment as auditor is void if subsection (1.4) has not been complied with.”