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Co-operatives National Law (Queensland)
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This section deals with the situation in which a large co-operative fails to appoint an auditor under section 302 (2) or (3) (the auditor replacement failure ). The co-operative must give the Registrar written notice of the auditor replacement failure within the period of 7 days commencing on the day of the auditor replacement failure (the notification period ). If the co-operative gives the Registrar the notice required by subsection (2) , the Registrar must appoint an auditor of the co-operative as soon as practicable after receiving the notice. This subsection has effect subject to section 306 . If the co-operative does not give the Registrar the notice required by subsection (2) , the Registrar may appoint an auditor of the co-operative at any time— after the end of the notification period; and before the Registrar receives notice of the auditor replacement failure from the co-operative. This subsection has effect subject to section 306 . If the co-operative— does not give the Registrar the notice required by subsection (2) ; and gives the Registrar notice of the auditor replacement failure after the end of the notification period; the Registrar must appoint an auditor of the co-operative as soon as practicable after receiving the notice. This subsection has effect subject to section 306 . Subject to this Part, an auditor appointed under this section holds office until the co-operative’s next annual general meeting. (sec.304-ssec.1) This section deals with the situation in which a large co-operative fails to appoint an auditor under section 302 (2) or (3) (the auditor replacement failure ). (sec.304-ssec.2) The co-operative must give the Registrar written notice of the auditor replacement failure within the period of 7 days commencing on the day of the auditor replacement failure (the notification period ). (sec.304-ssec.3) If the co-operative gives the Registrar the notice required by subsection (2) , the Registrar must appoint an auditor of the co-operative as soon as practicable after receiving the notice. This subsection has effect subject to section 306 . (sec.304-ssec.4) If the co-operative does not give the Registrar the notice required by subsection (2) , the Registrar may appoint an auditor of the co-operative at any time— after the end of the notification period; and before the Registrar receives notice of the auditor replacement failure from the co-operative. This subsection has effect subject to section 306 . (sec.304-ssec.5) If the co-operative— does not give the Registrar the notice required by subsection (2) ; and gives the Registrar notice of the auditor replacement failure after the end of the notification period; the Registrar must appoint an auditor of the co-operative as soon as practicable after receiving the notice. This subsection has effect subject to section 306 . (sec.304-ssec.6) Subject to this Part, an auditor appointed under this section holds office until the co-operative’s next annual general meeting.