Registrar may appoint auditor of large co‑operative if auditor removed but not replaced
244ZQ Registrar may appoint auditor of large co‑operative if auditor removed but not replaced
This section deals with the situation in which a large co‑operative fails to appoint an auditor under section 244ZO(2) or (4) (the auditor replacement failure).
The co‑operative must give the Registrar written notice of the auditor replacement failure within the period of 7 days commencing on the day of the auditor replacement failure (the notification period).
If the co‑operative gives the Registrar the notice required by subsection (2), the Registrar must appoint an auditor of the co‑operative as soon as practicable after receiving the notice.
If the co‑operative does not give the Registrar the notice required by subsection (2), the Registrar may appoint an auditor of the co‑operative at any time —
after the end of the notification period; and
before the Registrar receives notice of the auditor replacement failure from the co‑operative.
If the co‑operative —
does not give the Registrar the notice required by subsection (2); and
gives the Registrar notice of the auditor replacement failure after the end of the notification period,
the Registrar must appoint an auditor of the co‑operative as soon as practicable after receiving the notice.
Subject to this Part, an auditor appointed under this section holds office until the co‑operative’s next annual general meeting.
Subsections (3), (4) and (5) have effect subject to section 244ZS.
[Section 244ZQ inserted: No. 7 of 2016 s. 85.]
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