47. (1) Where, following prior consultation with the Minister, the Board considers it appropriate to do so having regard to section 28, the Agency or a subsidiary DAC may appoint a statutory auditor or statutory audit firm to be a statutory auditor of the Agency or subsidiary DAC, as the case may be, for the purposes of, and in accordance with, the Companies Act.

(2) The appointment of a statutory auditor or statutory audit firm under subsection (1) shall not affect the operation of section 46.

(3) In this section “statutory auditor” and “statutory audit firm” each has the same meaning as it has in the Companies Act.