| (1) |
A co-operative’s decision-making structure provided for in its constitution must conform with the requirements of this section. |
| (3) |
The board of directors is accountable— |
| (a) |
to the general meeting; and |
| (b) |
between general meetings, to the supervisory committee if a supervisory committee is provided for in the constitution of a co-operative. |
| (4) |
The supervisory committee— |
| (b) |
must consist of members who are not directors; and |
| (c) |
may be established for every co-operative if the constitution of the co-operative concerned provides for such committee. |
[Section 27(4) inserted by section 24 of Notice No. 558, GG 36729, dated 5 August 2013]
| (5) |
The supervisory committee— |
| (a) |
is responsible for supervising the Board by representing the interests of its members; |
| (b) |
must, if there is reasonably reliable information that indicates that any act or omission by the Board may impact negatively on the co-operative or any of its members, call a special meeting of all its members to discuss such act or omission; and |
| (c) |
must, within seven days after a special meeting contemplated in paragraph (b), in writing inform the— |
| (i) |
Tribunal of the outcome of such meeting; and |
| (ii) |
Board and the member or members affected or concerned of the meeting’s decision and reasons for the decision. |
[Section 27(5) inserted by section 24 of Notice No. 558, GG 36729, dated 5 August 2013]
| (6) |
If the supervisory committee has not complied with subsection (5)(c), a member of the co-operative may report the matter to the Tribunal for investigation. |
[Section 27(6) inserted by section 24 of Notice No. 558, GG 36729, dated 5 August 2013]
Gas Regulator Levies Act, 2002
