12(1)An auditor of a friendly society or registered branch may resign his office by depositing a notice in writing to that effect at the society’s registered office.U.K.
(2)The notice is not effective unless it is accompanied by the statement required by paragraph 14 below.
(3)An effective notice of resignation operates to bring the auditor’s term of office to an end as of the date on which the notice is deposited or on such later date as may be specified in it.
(4)The society or branch shall within 14 days of the deposit of a notice of resignation send a copy of the notice to the [F1Authority].
(5)If default is made in complying with sub-paragraph (4) above, the society or branch is guilty of an offence and liable—
(a)on conviction on indictment, to a fine; and
(b)on summary conviction, to a fine not exceeding the statutory maximum and in the case of a continuing offence, to an additional fine not exceeding one-tenth of the statutory maximum for every day during which the offence continues.
Textual Amendments
F1Word in Sch. 14 para. 12(4) substituted (17.8.2001 for specified purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3 para. 127(e) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
Commencement Information
I1Sch. 14 para. 12 wholly in force; Sch. 14 para. 12 not in force at Royal Assent see s. 126(2); Sch. 14 para. 12 in force for certain purposes at 13.1.1993 by S.I. 1993/16, art. 2, Sch. 1; Sch. 14 para. 12 in force to the extent not already in force at 1.1.1994 by S.I. 1993/2213, art. 2(1), Sch. 5