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Close Corporations Act, 1984 (Act No. 69 of 1984)

Part VII : Accounting and Disclosure

59. Appointment of accounting officers

 

(1) Every corporation shall appoint an accounting officer in accordance with the provisions of this Act.

 

(2) The appointment of the first accounting officer of a corporation referred to in section 12(g)(i) shall take effect on the date of the registration of the corporation.

 

(3) If a vacancy occurs in the office of an accounting officer, whether as a result of removal, resignation or otherwise, the corporation shall within 28 days appoint another accounting officer and comply with the provisions of subsection (2) of section 15: Provided that the provisions of subsection (3) of the said section 15 shall apply where the said subsection (2) of that section has not so been complied with, whether or not an appointment of such other accounting officer has been made.

 

(4) A corporation shall inform its accounting officer in writing of his removal from office.

 

(5)
(a) An accounting officer shall on resignation or removal from office forthwith inform every member of the corporation thereof in writing, and shall send a copy of the letter to the last known address of the registered office of the corporation and shall in addition forthwith by registered post inform the Registrar—
(i) that he has resigned or been removed from office;
(ii) of the date of his resignation or removal from office;
(iii) of the date up to which he performed his duties; and
(iv) whether,at the time of the resignation or removal from office of the accounting officer, that officer was aware of any matters in the financial affairs of the corporation which are in contravention of the provisions of this Act: Provided that an accounting officer who was aware of any such matter shall submit the full particulars thereof in writing to the Registrar.
(b) If an accounting officer who has been removed from office is of the opinion that he was removed for improper reasons, he shall forthwith by registered post inform the Registrar thereof, and shall send a copy of the letter to every member.