Removal of officersN.I.
11.—(1) If the Registrar considers that a prescribed community benefit society has contravened regulation 3 and that an officer of the society has been knowingly concerned in the contravention, the Registrar may direct the society to remove the officer from his office or position.
(2) The Registrar may not exercise the power in paragraph (1) if [F1the Registrar] considers, having taken into account any representations made to [F2it] in response to a warning notice, that the officer concerned took all reasonable steps to secure that the society did not contravene regulation 3.
Textual Amendments
F1Words in reg. 11(2) substituted (6.4.2018 immediately after 2016 c. 16 (N.I.), s. 8(2) comes into force) by The Financial Services Act 2012 (Mutual Societies) Order 2018 (S.I. 2018/323), art. 1, Sch. 4 para. 8(3)(c) (with art. 3)
F2Word in reg. 11(2) substituted (6.4.2018 immediately after 2016 c. 16 (N.I.), s. 8(2) comes into force) by The Financial Services Act 2012 (Mutual Societies) Order 2018 (S.I. 2018/323), art. 1, Sch. 4 para. 8(4) (with art. 3)
Commencement Information