Credit Union Act, 1997

Officers: suspension and removal by Supervisory Committee.

66.—(1) If the Supervisory Committee of a credit union considers that an officer who is not an employee has taken any action or decision which, in the opinion of the Committee, is not in accordance with the law or the registered rules, then, after consulting the Registrar, the Committee may either—

(a) suspend the officer by a unanimous vote of all the members of the Committee taken at a meeting of the Committee called for the purpose of considering his suspension; or

(b) convene a special general meeting of the credit union to consider whether to remove the officer in the light of the action or decision taken by him;

but no action shall be taken under this subsection without the officer concerned being given an opportunity to be heard by the members of the Supervisory Committee.

(2) If an officer who has been suspended by the Supervisory Committee in accordance with subsection (1)(a) does not resign within seven days of the vote by the Committee, the Committee shall convene, for a date not more than 21 days after the expiry of those seven days, a special general meeting—

(a) for the purpose of reviewing the suspension; and

(b) to consider whether to remove the officer in the light of the action or decision taken by him.

(3) Without prejudice to the requirements of section 80 , not less than 10 days before—

(a) the date of a meeting of the Supervisory Committee called as mentioned in subsection (1)(a), and

(b) the date of a special general meeting convened as mentioned in subsection (1)(b) or subsection (2),

the Supervisory Committee shall give written notice of the meeting to the Registrar and to the officer concerned.

(4) At a special general meeting held under this section, the members of the credit union, according to the purpose or purposes for which the meeting was convened, may, by secret ballot—

(a) ratify the suspension of the officer concerned and remove him from office;

(b) rescind the suspension of that officer; or

(c) remove that officer from office;

but no officer shall be so removed from office without being given an opportunity to be heard by the members present at the meeting.

(5) Where an officer of a credit union is removed from office at a special general meeting under paragraph (a) or paragraph (c) of subsection (4), the vacancy caused by the removal shall be filled in such manner as may be determined by the meeting.

General provisions