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Appointment and removal of auditors

(1) Every modaraba company shall, state in the prospectus the name and the address of the auditor of the modaraba duly approved by the Registrar, who shall not be the auditor of the modaraba company. (2) The terms of the appointment of auditor shall be renewed every year with the approval of the Registrar. (3) If the modaraba company wish...

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