3(1)If at any annual general meeting of a friendly society or registered branch no [F1auditor is] appointed or re-appointed, the [F2appropriate authority] may appoint a person to fill the vacancy; and the society or branch shall, within one week of the power of the [F2appropriate authority] 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 (29.6.2008 with effect in accordance with art. 1(3) of the amending S.I.) by The Friendly Societies Act 1992 (Accounts, Audit and EEA State Amendments) Order 2008 (S.I. 2008/1140), art. 1(2), Sch. 2 para. 5(b)
F2Words in Sch. 14 para. 3 substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 55(2) (with Sch. 12)
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