Section 1: Appointment, challenge and removal of statutory auditors.

In the event of misconduct or impediment, the statutory auditors may, under the conditions laid down by decree of the Conseil d’Etat, be relieved of their duties before the normal expiry of those duties, by a court decision, at the request of the collegiate body responsible for the management, of the body responsible for management, of one or more shareholders or members representing at least 5% of the share capital,…

When, on expiry of a statutory auditor’s term of office, a proposal is made to the meeting or competent body not to renew him, the statutory auditor must, subject to the provisions of Article L. 822-14 and, if he so requests, be heard by the meeting or the competent body.

The Ordinary General Meeting, in commercial companies which have such a body, or the body exercising a similar function which is competent by virtue of the rules which apply, may authorise the Statutory Auditors, on the proposal of the collegiate body responsible for the administration or the body responsible for the management of the company, to send directly to the clerk of the court, within the time limits imposed on…