Clause 51

by deleting subsection (1) and substituting the following subsections:“(1) The Registrar may, on the Registrar’s own motion, or on the application of the liquidator, or any creditor or member, of a society —

examine the conduct of a person who —

has taken part in the organisation and management of the society, or is a past or present officer of the society; and

appears, from the course of any relevant proceeding —

to have misapplied, retained or become liable or accountable for any money or property of the society; or

to be guilty of misfeasance or breach of trust in relation to the society; and

make an order requiring that person —

to repay or restore the whole or any part of the money or property, with interest at such rate as the Registrar thinks just; or

to contribute such sum to the assets of the society by way of compensation for any matter mentioned in paragraph (a)(ii)(A) or (B).(1A) An order of the Registrar made under subsection (1) is enforceable in the same manner as a judgment of a District Court.”;

by deleting the word “from” in subsection (4) and substituting the word “after”; and

by inserting, immediately after subsection (4), the following subsection:“(5) In this section, “relevant proceeding” means —

an audit of a society held under this Act (including a special audit under section 33A);

an inquiry held under section 79;

an examination of materials under section 80; or

the winding up of a society.”.