| (2) |
The annual general meeting must consider and discuss the audited report, independent reviewed report or annual report in order to take resolutions on the future conduct of the business of the co-operative. |
| (3) |
The chairperson of the Board or the person who acted as chairperson at the annual general meeting where the audited report, independent reviewed report or annual report was discussed and considered, must— |
| (a) |
accept the audited report, independent reviewed report or annual report; and |
| (b) |
sign acceptance of and implement the resolution taken at the annual general meeting on the future conduct of the business of the co-operative. |
| (4) |
A co-operative may not issue, publish or circulate copies of the audited report, independent reviewed report or annual report for public information unless the report has been discussed and considered by the annual general meeting in accordance with subsections (2) and (3). |
| (5) |
The audited report, independent reviewed report or annual report must be made available for inspection to any member of the co-operative at the registered office of the co-operative for at least 21 days after the meeting at which it was considered. |
| (a) |
must submit a copy of the audited report, independent reviewed report or annual report and the outcome of the general meeting’s discussion and consideration thereof to the registrar within 15 days of the resolution of the annual general meeting; or |
| (b) |
if the general meeting resolves to delay submitting the audited report, independent reviewed report or annual report to the registrar, the chairperson of the Board or the person who acted as chairperson at the meeting must notify the registrar in writing within 15 days of the resolution of the reasons for such delay and the action the co-operative intends taking in order to address the situation. |
| (7) |
After receipt of the audited report, independent reviewed report or annual report and the views expressed by the annual general meeting on the manner in which the co-operatives’ business was conducted the registrar must consider the report and where necessary may— |
| (a) |
request further information from the co-operative; |
| (b) |
refer the report and views expressed to the Agency for assistance to the co-operative in terms of section 91C(1)(c)(iii), (d)(i) or (iv); and |
| (c) |
take other appropriate steps as to facilitate compliance by the co-operative with the co-operative principles. |
[Section 48 substituted by section 36 of Notice No. 558, GG 36729, dated 5 August 2013]
Gas Regulator Levies Act, 2002
