Section 43A Duty to obtain accountant's reports where section 38 applied.F1
Subsection (2) applies where—
at the end of a registered society's year of account a disapplication under section 38A(1) is in force in relation to the year, and
the society's turnover in the preceding year of account exceeded £90,000.
The society shall, before the end of the period of twenty-eight days beginning immediately after the end of the year of account, appoint an appropriate person to make—
a report on the society's accounts and balance sheet for the year which meets the requirements of subsection (3), and
a report relating to the preceding year of account which meets the requirement of subsection (4).
A report for the purposes of subsection (2)(a) shall—
state whether, in the opinion of the person making the report, the revenue account or accounts, the other accounts (if any) to which the report relates, and the balance sheet are in agreement with the books of account kept by the society under section 35, and
state whether, in that person's opinion, on the basis of the information contained in those books of account, the revenue account or accounts and the balance sheet comply with the requirements of this Act.
A report for the purposes of subsection (2)(b) shall state whether in the opinion of the person making the report the financial criteria for the exercise of the power conferred by section 38A(1) were met in relation to the year.
In subsection (2) the reference to an appropriate person is to a person who is—
a qualified auditor for the purposes of this Act,
not ineligible by virtue of section 42(1) to be appointed as auditor of the society.
In this section, “turnover” has the same meaning as in section 38A.
Annotations
Textual amendments
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Notes on the whole Act
Textual amendments
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Act: "The Industrial and Provident Societies (N.I.) Act 1969 may be cited as The Co-operative and Community Benefit Societies Act (N.I.) 1969" (6.4.2018) by virtue of Credit Unions and Co-operative and Community Benefit Societies Act (NorthernIreland) 2016 (c. 16), ss. 8(2), 17(2) (with Sch. 2 paras. 2, 3); S.R. 2017/217, art. 2(b)
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