4. —
(1) The Industrial and Provident Societies Act (Northern Ireland) 1969 shall be amended as follows.
(2) In section 41 (qualified auditors), in subsection (1) for the words from “he is either a member” to the end substitute “he is eligible for appointment as a company auditor under Article 28 of the Companies (Northern Ireland) Order 1990.”.
(3) In section 42 (restrictions on appointment of auditors)—
(a)paragraph (c) of subsection (1) and subsection (3) shall cease to have effect; and
(b)in subsection (1) for paragraph (e) substitute—
“(e)a person who is by virtue of Article 30 of the Companies (Northern Ireland) Order 1990 ineligible for appointment as auditor of a company which is a subsidiary of that society.”.
1969 c. 24 (N.I.). Section 41(1) has been amended by Article 153(1) of, and Part II of Schedule 6 to, the Companies (Northern Ireland) Order 1978 and by Article 23 of, and Part I of Schedule 1 to, the Companies Consolidation (Consequential Provisions) (Northern Ireland) Order 1986.