302Appointment to replace auditor removed from office

302 Appointment to replace auditor removed from office

302 Appointment to replace auditor removed from office

(cf Corporations Act s 327D)

(1) This section deals with the situation in which an auditor of a co-operative is removed from office at a general meeting in accordance with section 310.

(2) The co-operative may at that general meeting (without adjournment), by special resolution immediately appoint an individual, firm or company as auditor of the co-operative if a copy of the notice of nomination has been sent to the individual, firm or company under section 308 (3).

(3) If a special resolution under subsection (2)—

(a) is not passed; or

(b) could not be passed merely because a copy of the notice of nomination has not been sent to an individual, firm or company under section 308 (3);

the general meeting may be adjourned and the co-operative may, at the adjourned meeting, by ordinary resolution appoint an individual, firm or company as auditor of the co-operative if—

(c) a member of the co-operative gives the co-operative notice of the nomination of the individual, firm or company for appointment as auditor; and

(d) the co-operative receives the notice at least 14 clear days before the day to which the meeting is adjourned.

(4) The day to which the general meeting is adjourned must be—

(a) not earlier than 20 days after the day of the meeting; and

(b) not later than 30 days after the day of the meeting.

(5) Subject to this Part, an auditor appointed under subsection (2) or (3) holds office until the co-operative’s next annual general meeting.