[(1) This section applies to the appointment under section 489(4) of an auditor or auditors of a public company—
(a) which is also a public interest entity; and
(b) which has an audit committee.
(2) But it does not apply to the appointment of an Auditor General as auditor or one of the auditors of the company.
(3) Before an appointment to which this section applies is made—
(a) the audit committee of the company must make a recommendation to the directors in connection with the appointment, and
(b) the directors must propose an auditor or auditors for appointment. . ..
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