Credit Union Act 1997

Eligibility of auditor for re-election.

115

115. (1) A person who was elected (or appointed) to audit the annual accounts of a credit union for a financial year and who continues to be qualified under this Act to be an auditor of a credit union shall be eligible for re-election (or election) as auditor of the credit union for the following financial year unless—

( a) he has given to the credit union notice in writing of his unwillingness to be re-elected (or elected); or

( b) he is ineligible for election as auditor of the credit union for that financial year; or

( c) he has ceased to act as auditor of the credit union by reason of incapacity; or

( d) the F246 [ Bank ] has made an order under section 113 (9) prohibiting his election or re-election as auditor of the credit union.

(2) For the purposes of subsection (1), a person is ineligible for election as auditor of a credit union for a particular financial year if, at the date of the general meeting at which an auditor would be elected for that financial year, he is, by virtue of section 114 (2) , disqualified for election in relation to that credit union.

Annotations:

Amendments:

F246

Substituted (1.05.2003) by Central Bank and Financial Services Authority of Ireland Act 2003 (12/2003), s. 35(1) and sch. 1 pt. 24 item 78, S.I. No. 160 of 2003, subject to transitional provisions in s. 36 and sch. 3 para. 26.