SCHEDULE 14 Auditors: Appointment, Tenure, Qualifications and Remuneration
Friendly Societies Act 1992 (1992 c 40) | Legislation

SCHEDULE 14 Auditors: Appointment, Tenure, Qualifications and Remuneration

Section 72

Appointment

1

(1)     The first auditors of a friendly society or registered branch may be appointed by the committee of management of the society or branch at any time before the first general meeting of the society or branch following the end of its initial financial year; and auditors so appointed shall hold office until the conclusion of that meeting.

(2)     If the committee of management fails to exercise its powers under sub-paragraph (1) above, those powers may be exercised by the society or branch in general meeting.

2

The committee of management, or the society or branch in general meeting, may fill any casual vacancy in the office of auditor; but while any such vacancy continues, the surviving or continuing auditor or auditors (if any) may act.

3

(1)     If at any annual general meeting of a friendly society or registered branch no auditors are appointed or re-appointed, the [appropriate authority] may appoint a person to fill the vacancy; and the society or branch shall, within one week of the power of the [appropriate authority] becoming exercisable, give it notice of that fact.

(2)

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Novation—why and how to novate a contract

Novation—why and how to novate a contractThere may be times when, rather than assigning the benefit of an agreement to a third party, the original parties wish instead to end their obligations to each other under that agreement and, in effect, recreate it, with the third party stepping into the

LEXISNEXIS

Collective investment schemes—essentials

Collective investment schemes—essentialsThis Practice Note examines the definition of a collective investment scheme (CIS) and available exemptions, and the treatment of regulated and unregulated CIS.Definition of a collective investment schemeThe definition of a CIS is contained in section 235 of

LEXISNEXIS

Wounding or causing grievous bodily harm with intent

Wounding or causing grievous bodily harm with intentThe offence of causing grievous bodily harm with intentWounding or causing grievous bodily harm (GBH) with intent is triable only in the Crown Court on indictment. Elements of the offence Under the Offences against the Person Act 1861 (OATPA 1861),

LEXISNEXIS

Defects liability period and rectification of defects

Defects liability period and rectification of defectsIt is common in construction projects for defects to manifest or appear in the works. Most construction contracts require the contractor to return to site to rectify (also known as ‘make good’) defects which arise or are discovered during a