The European Cooperative Society Regulations 2006

Inspection of accounts

30.—(1) The competent authority may, on the application of ten or more members of an SCE, appoint an accountant or actuary to inspect the accounts of the SCE and report his findings.

(2) Before taking any action under paragraph (1), the competent authority—

(a) must inform the SCE of the application; and

(b) may require the applicants to give security for the costs of the proposed inspection and report in such manner as the competent authority may direct.

(3) All expenses and incidental costs of the inspection and report must be defrayed by—

(a) the applicants;

(b) the SCE; or

(c) the members (including former members) of the SCE’s competent organ,

in such proportions as the competent authority may direct.

(4) A person appointed under paragraph (1) may require members (including former members) of the SCE’s competent organ and members, servants or agents (including former members, servants or agents) of the SCE to provide any relevant information or document (or part of a document).

(5) The competent authority must communicate the results of any inspection under this regulation to the applicants and the SCE.