# Friendly Societies Act 1974, Section 40: Remuneration of qualified auditors.

Extent: E+W+S+N.I.

(1) Regulations made by the . . . Treasury under section 97 of the Co-operative and Community Benefit Societies Act 2014 may prescribe the maximum rates of remuneration to be paid by registered societies and branches for the audit of their accounts and balance sheets by qualified auditors or for the making of a report for the purposes of section 30A(4)(a) or (5) or 39A(2)(a) or (b) above.
(2) No auditor or reporting accountant of a registered society or branch shall ask for, receive, or be entitled to receive, remuneration in excess of the rate prescribed in respect of his services by regulations made by virtue of this section.
(3) For the purposes of regulations made by virtue of this section, section 97 of the Co-operative and Community Benefit Societies Act 2014 shall be taken to extend to Northern Ireland.
(4) In this section, “ reporting accountant ” means a person appointed to make a report for the purposes of section 30A(4)(a) or (5) or 39A(2)(a) or (b) above

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Source: https://www.legislation.gov.uk/ukpga/1974/46/section/40 (the official version)
Page: https://openlegislation.uk/friendly-societies-act-1974/section-40
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.