Require to explain the meaning of some phrases

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I am reading some documents issed by Hong Kong nationality and would like you explain some phrases:

(1) "in the form laid" & "identification marked "A"" (in The Articles of Association)

ex: The company adopt new Articles of Association in place of the existing Articles in the form laid before the Meeting and for the purpose of identification marked "B" and signed by the Chairman.

I do not know the regime of marking "B" is the way to pass the decision or other?

(2) "retire" (in the Audited Financial)

ex: The financial statements have been audited by KPMG who retire and, being eligible, offer themselves for re-appointment.

"retire" is "stop doing"?

Thank you

Clive · Accepted Answer

Hi,
I am reading some documents issed by Hong Kong nationality and would like you explain some phrases:

(1) "in the form laid" & "identification marked "A"" (in The Articles of Association)

ex: The company adopt new Articles of Association in place of the existing Articles
in the form in the manner. It means in the way that they were given, in the way that they were written, using the words that were on the page
laid before presented to. Literally, placed on the table in front of
the Meeting and for the purpose of identification marked "B" and signed by the Chairman.

I do not know the regime of marking "B" is the way to pass the decision or other?No. The relevant document is the one marked 'B' and signed by the Chairman. Any other documents at the meeting are not part of the new Articles.

(2) "retire" (in the Audited Financial)

ex: The financial statements have been audited by KPMG who retire and, being eligible, offer themselves for re-appointment.

"retire" is "stop doing"? I believe it means that they cease to be the auditors because the term of their appointment is finished. However, they are willing to be appointed again.

Best wishes, Clive

Nguyennhuem · Answer

Many thanks to Clive.

I am still confused your answer in Item (2). I often see the same sentence in audited financial statements of other companies. As for me, the company rents the audited company (such as KPMG, Pricewaterhousecooper,...) to audit its financial statement every year.

" The financial statements have been audited by KPMG who retire and, being eligible, offer themselves for re-appointment."

So, the meaning should be KPMG's auditors have respondsibility to audit the financial statements in this year and next year they may be continuously to be rent.

Clive · Answer

Hi again,
I am still confused your answer in Item (2). I often see the same sentence in audited financial statements of other companies. As for me, the company ~~rents~~ hires the audited company (such as KPMG, Pricewaterhousecooper,...) to audit its financial statement every year.

" The financial statements have been audited by KPMG who retire and, being eligible, offer themselves for re-appointment."

So, the meaning should be KPMG's auditors have respondsibility to audit the financial statements in this year and next year they may~~be continuously to be rent. be hired again.~~ be hired again.

You hire people, you rent things.

Yes, what you say is what I was trying to say in my last post. So, I think your basic understanding is correct.

I wouldn't really just say that KPMG was hired last year. They were appointed, which is a more formal and legal word. If they had not been appointed, they couldn't be available for 're-appointment'.

Clive

Require to explain the meaning of some phrases

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