Notice of retirement etc. to be given
155 Notice of retirement etc. to be given
If, on the retirement or withdrawal from a firm of a member, the firm will no longer be capable, because of section 149(1)(d) of acting as auditor of a society, the member retiring or withdrawing must give the society reasonable notice of retirement or withdrawal.
Maximum penalty—80 penalty units.
On receipt of the notice by the society, the office of auditor becomes vacant.
Within 14 days after the removal of an auditor or the receipt of a notice of resignation, retirement or withdrawal from an auditor, the society must give the registrar a notice of the removal, resignation, retirement or withdrawal in the approved form.
Maximum penalty for subsection (3)—10 penalty units.
This Act’s bill:Explanatory memorandum
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.