SCHEDULES
C1SCHEDULE 11 Auditors: Appointment, Tenure, Qualifications
Annotations:
Modifications etc. (not altering text)
Appointment
3
1
If at any annual general meeting of a building society no auditors are appointed or re-appointed, the Commission may appoint a person to fill the vacancy; and the society shall, within one week of the power of the Commission becoming exercisable, give it notice of that fact.
2
If a building society fails to give the notice required by sub-paragraph (1) above the society shall be 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 £40 for every day during which the offence continuesX;
and so shall any officer who is also guilty of the offence.
Sch. 11 excluded by S.I. 1986/2168, art. 12(a)