Co-operatives Act, 2005 (Act No. 14 of 2005)Chapter 7 : Audited Reports and Independent Reviewed Reports of Co-operatives51. Removal of auditor or independent reviewer |
[Section 51 heading substituted by section 39(a) of Notice No. 558, GG 36729, dated 5 August 2013]
| (1) | The members may by ordinary resolution remove an auditor or independent reviewer from office. |
[Section 51(1) substituted by section 39(b) of Notice No. 558, GG 36729, dated 5 August 2013]
| (2) | A vacancy created by the removal of an auditor or independent reviewer must— |
[Words preceding section 51(2)(a) substituted by section 39(c) of Notice No. 558, GG 36729, dated 5 August 2013]
| (a) | be filled at the meeting at which the auditor or independent reviewer is removed; or |
[Section 51(2)(a) substituted by section 39(d) of Notice No. 558, GG 36729, dated 5 August 2013]
| (b) | if not filled at the meeting, be filled within 30 days of the creation of a vacancy, by the board of directors, subject to the registrar’s approval. |
| (3) | An auditor or independent reviewer appointed in terms of subsection (2) holds office until the close of the next annual general meeting. |
[Section 51(3) substituted by section 39(e) of Notice No. 558, GG 36729, dated 5 August 2013]