SCHEDULE 2MODIFICATION OF F1THE CO-OPERATIVE AND COMMUNITY BENEFIT SOCIETIES ACT (NORTHERN IRELAND) 1969
6
After section 39, insert—
39APrevention by members of automatic re-appointment of auditor
1
An auditor of a society is not automatically re-appointed under section 39 of this Act if the society has received notices under this section from members representing at least the requisite percentage of the total voting rights of all members who would be entitled to vote on a resolution that the auditor should not be re-appointed.
2
The “requisite percentage” is 5%, or such lower percentage as is specified for this purpose in the society's rules.
3
A notice under this section—
a
may be in hard copy or electronic form,
b
must be authenticated by the person or persons giving it, and
c
must be received by the society before the end of the year of account immediately preceding the year of account for which the automatic re-appointment would have effect.
Words in Sch. 2 heading substituted (with effect in accordance with reg. 2(4) of the amending S.I.) by The Statutory Auditors Regulations 2017 (S.I. 2017/1164), reg. 1(2)(3), Sch. 2 para. 16(a) (with reg. 2(6)(7))