As a company you should, if any of you are undertaking such work, be supplied with or have access to the appropriate regulations, its clear your boss has no clue here nor the guy who installed this as it stands so I do question if you have access to such regulations, if you sub-contract to this company expressing your experience in this area then you should have a copy of the BS60204 or access to it yourself and any other regulations that you need to do the work your involved with, if others in your company are wiring functional circuits only into control panels with no regard for the relevent regulations and/or the fact no risk assessment has been done to see if your work would mean the existing controls may need to be upgraded to meet current standards then your company is playing a very high risk game.
It comes across like your company is trying to fill a big void in the market without using the appropriately knowledgable and qualified people and basically winging it until someone like yourself starts questioning what the hell is going on...
You're either going to get yourself out of a job here for rightly going against your co-workers or your stamping your papers for a good position in said company when its realised you know more than the other employee's, well enough to question their methods.