The following may not be auditors:
1°) the founders, contributors, beneficiaries of special benefits, managers of the company or of
its subsidiaries, as well as their spouses;
2°) the blood relatives and persons related by marriage, up to the fourth degree inclusive, of the
persons referred to in paragraph 1) of this article;
3°) the managers of companies holding one-tenth of the company’s capital or in which the latter
holds one-tenth of the capital, as well as their spouse;
4°) the persons who, directly or indirectly or through third parties, receive either from the persons
figuring in paragraph 1) of this article or from any company referred to in paragraph 3) of
this article, a salary or any remuneration for a permanent activity other than that of auditor;
the same shall apply to the spouses of the said persons;
5°) the auditors’ companies one of whose members, shareholders or managers is in one of the
situations referred to in the preceding paragraphs;
6°) the auditors’ companies one of whose managers, members or shareholders performing the
duties of auditor has a spouse who is in one of the situations referred to in paragraph 5) of
this article.
Official translation
Spot-checked
In force from 17 April 1997
Source page 155