301Appointment by directors or annual general meeting of auditor of large co-operative to fill casual vacancy

#### 301 Appointment by directors or annual general meeting of auditor of large co-operative to fill casual vacancy 301 Appointment by directors or annual general meeting of auditor of large co-operative to fill casual vacancy (cf Corporations Act s 327C) > > (1) If— > > > > > (a) a vacancy occurs in the office of auditor of a large co-operative; and > > > > > (b) the vacancy is not caused by the removal of an auditor from office; and > > > > > (c) there is no surviving or continuing auditor of the co-operative; > > > > the directors must, within one month after the vacancy occurs, appoint an auditor to fill the vacancy unless the co-operative at a general meeting has appointed an auditor to fill the vacancy. > > > (2) An auditor appointed under subsection (1) holds office, subject to this Part, until the co-operative’s next annual general meeting. > > > (3) A director of a large co-operative must take all reasonable steps to comply with, or to secure compliance with, subsection (1). > > > > Maximum penalty (for subsection (3)): $2,500 or imprisonment for 6 months, or both.