531Application for special meeting or inquiry

531 Application for special meeting or inquiry

531 Application for special meeting or inquiry

(1) The Registrar must, on the application of a majority of the members of the board or of not less than one-third in number of the members of a co-operative—

(a) call a special meeting of the co-operative; or

(b) hold, or appoint an inspector to hold, an inquiry into the affairs of the co-operative or of a subsidiary of the co-operative.

(2) An application must be supported by the evidence the Registrar directs to show the applicants have good reason for requiring the meeting or inquiry and the application is made without malicious motive.

(3) Notice of the application must be given to the co-operative as the Registrar directs.

(4) The applicants must give security for the expenses of the meeting or inquiry as directed by the Registrar.