Nomination of auditor (cf Corporations Act s 328B)
308 Nomination of auditor (cf Corporations Act s 328B)
(1) Subject to this section, a co-operative may appoint an individual, firm or company as auditor of the co-operative at its annual general meeting only if a member of the co-operative gives the co-operative written notice of the nomination of the individual, firm or company for appointment as auditor:
before the meeting was convened; or
not less than 21 days before the meeting.
This subsection does not apply if an auditor is removed from office at the annual general meeting.
(2) If a co-operative purports to appoint an individual, firm or company as auditor of the co-operative in contravention of subsection (1):
the purported appointment is of no effect; and
the co-operative is guilty of an offence.
Maximum penalty: $2 500.
(3) If a member gives a co-operative notice of the nomination of an individual, firm or company for appointment as auditor of the co‑operative, the co‑operative must send a copy of the notice to:
each individual, firm or company nominated; and
each auditor of the co-operative; and
(c) each person entitled to receive notice of general meetings of the co-operative;
and this is so whether the appointment is to be made at a meeting or an adjourned meeting referred to in section 302 or at an annual general meeting.
The copy of the notice of nomination must be sent:
not less than 7 days before the meeting; or
at the time notice of the meeting is given.
This Act’s bill:Explanatory statement
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