Co-operatives Act, 2005 (Act No. 14 of 2005)

Chapter 7 : Audited Reports and Independent Reviewed Reports of Co-operatives

Purchase

[Section 51 heading substituted by section 39(a) of Notice No. 558, GG 36729, dated 5 August 2013]

(1)	The members may by ordinary resolution remove an auditor or independent reviewer from office.

[Section 51(1) substituted by section 39(b) of Notice No. 558, GG 36729, dated 5 August 2013]

(2)	A vacancy created by the removal of an auditor or independent reviewer must—

[Words preceding section 51(2)(a) substituted by section 39(c) of Notice No. 558, GG 36729, dated 5 August 2013]

(a)	be filled at the meeting at which the auditor or independent reviewer is removed; or

[Section 51(2)(a) substituted by section 39(d) of Notice No. 558, GG 36729, dated 5 August 2013]

(b)	if not filled at the meeting, be filled within 30 days of the creation of a vacancy, by the board of directors, subject to the registrar’s approval.

(3)	An auditor or independent reviewer appointed in terms of subsection (2) holds office until the close of the next annual general meeting.

[Section 51(3) substituted by section 39(e) of Notice No. 558, GG 36729, dated 5 August 2013]