261Questions and comments by members on co-operative

261 Questions and comments by members on co-operative management at annual general meeting (cf Corporations Act s 250S) (1) The chairperson of an annual general meeting of a co-operative must allow a reasonable opportunity for the members as a whole at the meeting to ask questions about or make comments on the management of the co-operative. 262 Questions by members of auditors at annual general meeting (cf Corporations Act s 250T) (1) If a co-operative's auditor or their representative is at the meeting, the chairperson of an annual general meeting of the co-operative must: (a) allow a reasonable opportunity for the members as a whole at the meeting to ask the auditor or the auditor's representative questions relevant to: (i) the conduct of the audit; and (ii) the preparation and content of the auditor's report; and (iii) the accounting policies adopted by the co-operative in relation to the preparation of the financial statements; and (iv) the independence of the auditor in relation to the conduct of the audit; and

Co-operatives (National Uniform Legislation) Act 2015 162 (b) allow a reasonable opportunity for the auditor or their representative to answer written questions submitted to the auditor. (3) If: (a) the co-operative's auditor or their representative is at the meeting; and (b) the auditor has prepared a written answer to a written question submitted to the auditor; the chairperson of the annual general meeting may permit the auditor or their representative to table the written answer to the written question. (4) The co-operative must make the written answer tabled under subsection (3) reasonably available to members as soon as practicable after the annual general meeting. Maximum penalty (for subsection (4)): $500. Part 3.3 Financial reports and audit Note Columns 1 and 2 of the following Table set out the Division numbers and Division headings of this Part, and Columns 3 and 4 indicate (where relevant) provisions of Chapter 2M of the Corporations Act that generally correspond to each Division of this Part. Table Column 1 Column 2 Column 3 Column 4 Division of this Part Heading to Division Provisions of Corporations Act to which Division corresponds Division 1 Preliminary – – Division 2 Financial records ss 286–290 Part 2M.2 Division 3 Annual financial reports and directors' reports generally ss 292–294 (also s315 (2)) Part 2M.3, Div 1 (also Div 4) Division 4 Annual financial ss 295–297, 301 Part 2M.3, Div 1

Co-operatives (National Uniform Legislation) Act 2015 163 Division 5 Annual directors' ss 298–300A Part 2M.3, Div 1 Division 6 Half-year financial report and directors' report ss 302–306 Part 2M.3, Div 2 Division of this Part Heading to Division Provisions of Corporations Act to which Division corresponds Division 7 Audit and auditor's report ss 307–313 Part 2M.3, Div 3 Division 8 Annual financial reporting to members ss 314–318 Part 2M.3, Div 4 Division 9 Lodging reports and returns with Registrar ss 319–322 Part 2M.3, Div 5