55
In forceAdministrator’s duty on revocation of appointment
Part 4Other functions and powers of registrar
Division 2Specific powers
Subdivision 5Administrators
55 Administrator’s duty on revocation of appointment
(1)
Immediately on the revocation of an administrator’s appointment, the administrator must prepare and give the registrar a report showing how the administration was carried out and, for that purpose, an administrator has access to the society’s records and documents.
(2)
On giving the report and accounting fully for the society’s administration to the registrar’s satisfaction, the administrator is released from further duty to account for the society’s administration other than because of fraud, dishonesty, negligence or wilful failure to comply with this Act.
This Act’s bill:Explanatory memorandum
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