Questions by members of auditors at annual general meeting (cf Corporations Act s 250T)
262 Questions by members of auditors at annual general meeting (cf Corporations Act s 250T)
If a co-operative’s auditor or their representative is at the meeting, the chairperson of an annual general meeting of the co-operative must—
allow a reasonable opportunity for the members as a whole at the meeting to ask the auditor or the auditor’s representative questions relevant to—
the conduct of the audit; and
the preparation and content of the auditor’s report; and
the accounting policies adopted by the co-operative in relation to the preparation of the financial statements; and
the independence of the auditor in relation to the conduct of the audit; and
allow a reasonable opportunity for the auditor or their representative to answer written questions submitted to the auditor.
Maximum penalty—$500.
An offence based on subsection (1) is an offence of strict liability.
If—
the co-operative’s auditor or their representative is at the meeting; and
the auditor has prepared a written answer to a written question submitted to the auditor;
the chairperson of the annual general meeting may permit the auditor or their representative to table the written answer to the written question.
The co-operative must make the written answer tabled under subsection (3) reasonably available to members as soon as practicable after the annual general meeting.Maximum penalty (for subsection (4)): $500.
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.