Credit Union Act, 1997
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Functions of Supervisory Committee. |
60.—(1) Without prejudice to the generality of section 58 (1), the Supervisory Committee of a credit union shall— | |
(a) keep minutes of meetings held by it; | ||
(b) make or cause to be made, not less than twice in the period before the next annual general meeting, an examination of the books and documents of the credit union and that examination shall include an inspection of securities, cash accounts and all records relating to loans; | ||
(c) make, or cause to be made, once in the period before the next annual general meeting, a comparison between the pass-book or statement of account of a random sample of at least 10 per cent. of all the members of the credit union and the appropriate records of the credit union; | ||
(d) ascertain that all actions and decisions of the officers relating to the affairs of the credit union are in accordance with law and the registered rules; | ||
(e) furnish a written report on the result of its examinations and enquiries under this section to the next annual general meeting or, if it thinks fit, to a special general meeting. | ||
(2) The Supervisory Committee shall have access, at all times, to the books and documents of the credit union. |