Qualified auditorsN.I.
46.—(1) A person shall not be qualified for appointment as auditor of any credit union[F1 unless he is eligible for appointment as a [F2statutory auditor under Part 42 of the Companies Act 2006].]
(2) None of the following persons shall be qualified for appointment as auditor of a credit union—
(a)an officer or servant of the credit union;
(b)a person who is a partner of, or in the employment of, or who employs, an officer or servant of the credit union;
Sub‐para.(c) rep. by SR 1993/67
(3) Any appointment made by a credit union in contravention of paragraph (1) or (2) shall not be an effective appointment for the purposes of this Order.
Para. (4) rep. by SR 1993/67
(5) In paragraph (2), references to an officer or servant shall be construed as not including an auditor.
F1SR 1993/67
F2Words in art. 46(1) substituted (6.4.2008) by Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), arts. 2(2), 3(1), Sch. 1 para. 2(d) (with arts. 6, 11, 12)