(1)The [F2auditor of a friendly society is] entitled—
(a)to access at all times to the books, accounts and vouchers of the society;
(b)to require from the officers of the society such information and explanations [F3as he thinks necessary for the performance of his duties as auditor];
(c)to receive from the society—
(i)notice of any general meeting of the society and of any matter relating to the business of such a meeting of which notice is given (by whatever means) to the society’s members; and
(ii)copies of any communications sent to the society’s members with respect to any such meeting; and
(d)to attend any general meeting of the society and to be heard on any part of the business of the meeting which concerns [F4him as auditor];
and the [F5auditor of a registered branch has] the corresponding rights to those specified in paragraphs (a) to (d) above, with the substitution for references to the society of references to the branch.
(2)The right to attend or be heard at a meeting is exercisable in the case of a body corporate or partnership by an individual authorised by it in writing to act as its representative at the meeting.
(3)An officer of a friendly society is guilty of an offence if he knowingly or recklessly makes to the society’s [F6auditor] a statement (whether written or oral) which—
(a)conveys or purports to convey any information or explanations which the [F7auditor requires, or is entitled to require, as auditor] of the society; and
(b)is misleading, false or deceptive in a material particular.
(4)An officer of a registered branch is guilty of an offence if he knowingly or recklessly makes to the [F8auditor] of the branch a statement (whether written or oral) which—
(a)conveys or purports to convey any information or explanations which the [F9auditor requires, or is entitled to require, as auditor] of the branch; and
(b)is misleading, false or deceptive in a material particular.
(5)A person guilty of an offence under subsection (3) or (4) above is liable —
(a)on conviction on indictment, to imprisonment for a term not exceeding 2 years, or to a fine, or to both; and
(b)on summary conviction, to imprisonment for a term not exceeding 6 months or to a fine not exceeding the statutory maximum, or to both.
(6)It shall be the duty of a subsidiary of a friendly society which is—
(a)a company within the meaning of the M1Companies Act 1985 incorporated in Great Britain; or
(b)a company within the meaning of the M2Companies (Northern Ireland) Order 1986 incorporated in Northern Ireland,
and of [F10the auditor] of such a subsidiary to give to [F10the auditor] of the society such information and explanations as [F11that auditor] may reasonably require for the purposes of [F12his duties as auditor] of that society.
(7)If—
(a)a subsidiary to which subsection (6) above applies fails to comply with that subsection; or
(b)an auditor of such a subsidiary fails without reasonable excuse to comply with that subsection,
the subsidiary or auditor is guilty of an offence and liable on summary conviction to a fine not exceeding level 5 on the standard scale.
(8)An incorporated friendly society having a subsidiary to which subsection (6) above does not apply shall, if required by [F13its auditor] to do so, take all such steps as are reasonably open to it to obtain from the subsidiary such information and explanations as [F14he] may reasonably require for the purposes of [F15his duties as auditor] of that society.
(9)If an incorporated friendly society fails to comply with subsection (8) above, it is guilty of an offence and liable on summary conviction to a fine not exceeding level 5 on the standard scale.
Textual Amendments
F1Words in s. 75 heading 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. 3(f)
F2Words in s. 75(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. 3(a)(i)
F3Words in s. 75(1)(b) 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. 3(a)(ii)
F4Words in s. 75(1)(d) 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. 3(a)(iii)
F5Words in s. 75(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. 3(a)(iv)
F6Word in s. 75(3) 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. 3(b)(i)
F7Words in s. 75(3)(a) 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. 3(b)(ii)
F8Word in s. 75(4) 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. 3(c)(i)
F9Words in s. 75(4)(a) 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. 3(c)(ii)
F10Words in s. 75(6) 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. 3(d)(i)
F11Words in s. 75(6) 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. 3(d)(ii)
F12Words in s. 75(6) 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. 3(d)(iii)
F13Words in s. 75(8) 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. 3(e)(i)
F14Word in s. 75(8) 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. 3(e)(ii)
F15Words in s. 75(8) 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. 3(e)(iii)
Commencement Information
I1S. 75 wholly in force; s. 75 not in force at Royal Assent see s. 126(2); s. 75 in force for certain purposes at 13.1.1993 by S.I. 1993/16, art. 2, Sch. 1; s. 75 in force for all remaining purposes at 1.1.1994 by S.I. 1993/2213, art. 2(1), Sch. 5
Marginal Citations