3(1)If at any annual general meeting of a friendly society or registered branch no auditors are appointed or re-appointed, the [F1Authority] may appoint a person to fill the vacancy; and the society or branch shall, within one week of the power of the [F1Authority] becoming exercisable, give it notice of that fact.U.K.
(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.
Textual Amendments
F1Words in Sch. 14 para. 3(1) 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(a) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
Commencement Information
I1Sch. 14 para. 3 wholly in force; Sch. 14 para. 3 not in force at Royal Assent see s. 126(2); Sch. 14 para. 3 in force for certain purposes at 13.1.1993 by S.I. 1993/16, art. 2, Sch. 1; Sch. 14 para. 3 in force to the extent not already in force at 1.1.1994 by S.I. 1993/2213, art. 2(1), Sch. 5