Credit Union Act, 1997

Removal of auditor by Registrar.

116.—(1) Where the Registrar considers it necessary in the interest—

(a) of the members or creditors of a credit union, or

(b) of the orderly and proper regulation of the business of a credit union,

the Registrar may remove from office the auditor of the credit union.

(2) In the Fifth Schedule, paragraphs 1, 2, 4 and 5 shall have effect where an auditor is removed under subsection (1), substituting a reference to the auditor for any reference to a director or member.

(3) If, in a case where any provision of the Fifth Schedule has effect by virtue of subsection (1), the Court is satisfied, because of the nature or circumstances of the case or otherwise in the interests of justice, that it is desirable, the whole or any part of any proceedings under that provision may be heard otherwise than in public.