Building Societies Act, 1976

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Qualifications for appointment as auditor.

68.—(1) A person shall not be qualified for appointment as auditor of a society unless he is a member of a body of accountants for the time being recognised by the Minister for Industry and Commerce for the purposes of section 162 (1) (a) of the Act of 1963 or is for the time being authorised by the Minister for Industry and Commerce under section 162 (1) (b) of that Act to be appointed auditor of a company.

(2) Where an auditor of a society is convicted of a criminal offence arising out of or connected with the performance of his duties or his conduct as an auditor, he shall not be qualified for appointment as auditor of a society without the permission of the Court.

(3) None of the following persons shall be qualified for appointment as an auditor of a society:

(a) an officer or servant of the society (other than an auditor);

(b) a person who is a partner of or in the employment of or who employs an officer or servant of the society (other than an auditor);

(c) a body corporate.