Section 270. Prevention by members of deemed re-appointment of auditor

(1) An auditor of a private company shall not be deemed to be re-appointed under subsection 269(3) if the company has received notice under this section from members representing at least five per centum of the total voting rights of all members who would be entitled to vote on a resolution that the auditor should not be re-appointed.

(2) A notice under this section—

(a) may be in hard copy or electronic form;

(b) shall be authenticated by each member giving the notice; and

(c) shall be received by the company at least thirty days before the circulation of the financial statements to the members.