Industrial and Provident Societies (Amendment) Act, 1978

Registrar's power to call special meeting of a credit union.

24.—(1) Whenever, after an inspection under section 21 or after an investigation under section 22, the Registrar is of the opinion that it is necessary to do so in the interest of the orderly and proper regulation of the business of a credit union, he may cause a special meeting of the credit union to be held.

(2) A meeting under this section shall have all the powers of a special meeting called in accordance with the rules of the credit union concerned.

(3) All expenses of or incidental to the meeting shall be defrayed out of the funds of the credit union, or by the members (or former members) or officers of the credit union, in such proportions as the Registrar shall direct.

(4) (a) The Registrar may give such directions as he thinks fit in relation to the calling, holding and conduct of a meeting held under this section (including the time and place of the meeting and what matters are to be discussed and determined at the meeting).

(b) The Registrar may appoint a person to be chairman at a meeting held under this section.

(c) The power of a meeting held under this section to appoint its own chairman shall be exercisable in default of such an appointment by the Registrar.