SCHEDULES

SCHEDULE 14 Auditors: Appointment, Tenure, Qualifications and Remuneration

Appointment

I13

1

If at any annual general meeting of a friendly society or registered branch no F2auditor is appointed or re-appointed, the F1appropriate authority may appoint a person to fill the vacancy; and the society or branch shall, within one week of the power of the F1appropriate authority becoming exercisable, give it notice of that fact.

2

If a society or branch fails to give the notice required by sub-paragraph (1) above, the society or branch shall be guilty of an offence and liable on summary conviction—

a

to a fine not exceeding level 3 on the standard scale; and

b

in the case of a continuing offence to an additional fine not exceeding one-tenth of that level for every day during which the offence continues.