Co-operatives National Law (Queensland)
sec.301Appointment by directors or annual general meeting of auditor of large co-operative to fill casual vacancy (cf Corporations Act s 327C )
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sec.301 Appointment by directors or annual general meeting of auditor of large co-operative to fill casual vacancy (cf Corporations Act s 327C )
If— a vacancy occurs in the office of auditor of a large co-operative; and the vacancy is not caused by the removal of an auditor from office; and 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. An auditor appointed under subsection (1) holds office, subject to this Part, until the co-operative’s next annual general meeting. 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. (sec.301-ssec.1) If— a vacancy occurs in the office of auditor of a large co-operative; and the vacancy is not caused by the removal of an auditor from office; and 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. (sec.301-ssec.2) An auditor appointed under subsection (1) holds office, subject to this Part, until the co-operative’s next annual general meeting. (sec.301-ssec.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.
- (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;