Building Societies Act 1986 (c. 53)

SCHEDULES

SCHEDULE 11 U.K. Auditors: Appointment, TenureF1 ...

Textual Amendments

F1 Words in Sch. 11 heading omitted (6.4.2008) by virtue of The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 2(2), Sch. 1 para. 14(a), Sch. 2 (with arts. 6, 11, 12)

Modifications etc. (not altering text)

C1 Sch. 11 excluded by S.I. 1986/2168, art. 12(a)

[F2 Removal of auditor on improper grounds U.K.

Textual Amendments

F2 Sch. 11 para. 6A and cross-heading inserted (29.6.2008) by The Building Societies Act 1986 (Accounts, Audit and EEA State Amendments) Order 2008 (S.I. 2008/1519), arts. 1(2), 6(1)

6A. (1) Where an auditor of a building society is removed from office an application may be made to the High Court under this paragraph. U.K.

(2) The persons who may make such an application are—

(a) any member of the society who was also a member at the time of the removal;

(b) the Authority.

(3) If the court is satisfied that the removal was—

(a) on grounds of divergence of opinion on accounting treatments or audit procedures, or

(b) on any other improper grounds,

it may make such order as it thinks fit for giving relief in respect of the removal.

(4) The court may, in particular—

(a) declare that any resolution of the society removing an auditor, or appointing a new auditor in his place, is void;

(b) require the directors of the society to re-appoint the auditor until the next general meeting of the society;

(c) give directions as to the conduct of the society’s affairs in the future.]