Revised Laws of Saint Lucia (2021)

PART 12
INVESTIGATIONS

180.   Examination

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    (1)   The Registrar may—

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      (a)     on his or her own motion; or

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      (b)     on the application of the lesser of 25 members and 10% of the members,

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    appoint a person as examiner who shall make an examination of the books of the society and examine the affairs of the society and shall make available his or her report to the Registrar.

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    (2)   Subject to subsection (3), the Registrar may direct that the expenses incidental to an examination undertaken under this section are to be defrayed—

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      (a)     by the members applying for the examination;

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      (b)     by the society or its officers; or

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      (c)     by any combination of the members, the society or its officers.

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    (3)   Where an examination undertaken under this section reveals substantial irregularities in the business of the society, the Registrar shall not direct any members on whose motion the examination was commenced to defray the expenses.

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    (4)   Where the Registrar appoints an examiner under subsection (1), the society and its officers, members, agents or employees shall furnish the examiner with any books, accounts, securities or other documents the examiner requires to perform the examination.