26Registered auditors and liquidators

26 Registered auditors and liquidators

(1) For the purposes of the Companies Act 1981, a person who was, immediately before the date of commencement of that Act, registered as an auditor or as a liquidator or appointed as an official liquidator under the Companies Ordinance 1962 shall, subject to section 27 of that Act, be deemed to be registered under Division 2 of Part II of that Act as an auditor, as a liquidator or as an official liquidator, as the case may be, for the period of 6 months commencing on the date of commencement of that Act. (2) Where:

(a) a person who is deemed by reason of subsection (1) to be registered under Division 2 of Part II of the Companies Act 1981 as an auditor or as a liquidator for the period of 6 months commencing on the date of commencement of that Act has applied to be registered under that Division as an auditor or as a liquidator, as the case may be, within that period of 6 months; and

(b) at the expiration of that period, the person has not been notified of the results of his application;

the person shall, subject to section 27 and Subdivision B of Division 2 of Part II of that Act, be deemed to be registered as an auditor or liquidator, as the case may be, for a further period commencing at the expiration of the period referred to in paragraph (a) and ending:

(c) in the case of an application for registration as an auditor—on the day on which the application is granted or refused; and

(d) in the case of an application for registration as a liquidator— on the day on which the person is notified of the results of his application.

(3) Where the registration as a liquidator of a person to whom subsection (2) applies comes into force under Division 2 of Part II of the Companies Act 1981, that person shall be deemed to have been registered as a liquidator under that Division for the period commencing at the expiration of the day referred to in paragraph (2)(d) and ending at the expiration of the day before the day on which that registration comes into force. (4) A person who is deemed to be registered as an auditor, as a liquidator or as an official liquidator under the provision of a law of a participating State or participating Territory that corresponds with subsection (1) shall be deemed to be registered as an auditor, as a liquidator or as an official liquidator, as the case may be, under the Companies Act 1981.