Appointment to replace auditor removed from office (cf Corporations Act s 327D)
302 Appointment to replace auditor removed from office (cf Corporations Act s 327D)
(1) This section deals with the situation in which an auditor of a co‑operative is removed from office at a general meeting in accordance with section 310.
(2) The co-operative may at that general meeting (without adjournment), by special resolution immediately appoint an individual, firm or company as auditor of the co-operative if a copy of the notice of nomination has been sent to the individual, firm or company under section 308(3).
If a special resolution under subsection (2):
is not passed; or
(b) could not be passed merely because a copy of the notice of nomination has not been sent to an individual, firm or company under section 308(3); the general meeting may be adjourned and the co-operative may, at the adjourned meeting, by ordinary resolution appoint an individual, firm or company as auditor of the co‑operative if:
(c) a member of the co-operative gives the co-operative notice of the nomination of the individual, firm or company for appointment as auditor; and
(d) the co-operative receives the notice at least 14 clear days before the day to which the meeting is adjourned.
The day to which the general meeting is adjourned must be:
not earlier than 20 days after the day of the meeting; and
not later than 30 days after the day of the meeting.
(5) Subject to this Part, an auditor appointed under subsection (2) or (3) holds office until the co-operative's next annual general meeting.
This Act’s bill:Explanatory statement
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