149   Relief from requirements as to accounts and audit

(1)  The directors of a society may apply to the Registrar in writing for an order relieving the directors, the society or the auditor of the society from compliance with any specified requirements of Division 4 (Accounts) or 5 (Audit) (other than section 126 (Accounting records to be kept)).

(2)  An application under subsection (1) must be accompanied by a written statement made in accordance with a resolution of the directors of the society, signed by not less than 2 directors and stating the reasons for seeking the order.

(3)  The Registrar may require the directors making the application to supply such information relating to the operations of the society, and of any entity controlled by the society, as the Registrar thinks necessary for the purpose of determining the application.

(4)  The Registrar may make an order unconditionally or subject to any conditions the Registrar considers appropriate.

(5)  Notice of an order under subsection (4) must be given to the society.

(6)  The Registrar may, if the Registrar considers it appropriate, make an order in relation to a specified class of societies relieving the directors of a society included in that class, a society included in that class or the auditor of a society included in that class, from compliance with any specified requirements of Division 4 (Accounts) or 5 (Audit) (other than section 126 (Accounting records to be kept)).

(7)  The Registrar may make an order under subsection (6) unconditionally or subject to any conditions the Registrar considers appropriate.

(8)  Notice of an order under subsection (6) must be published in the Gazette.

(9)  The Registrar must not make an order in relation to a society, or a class of societies, under this section unless the Registrar is of the opinion, in relation to each requirement of this Act specified in the order, that compliance with the requirement:

(a)  would render accounts or group accounts, or a report required in relation to those accounts, misleading, or

(b)  would be inappropriate to the circumstances of the society, or of the societies included in that class, or

(c)  would impose unreasonable burdens on:

(i)  the society, an officer of the society or the auditor of the society, or

(ii)  the societies, or officers or auditors of the societies, included in that class,

      as the case may be.

(10)  An order under this section may be limited in its effect to a period specified in the order.

(11)  The Registrar may, on application by the directors of a society or on the Registrar’s own initiative, revoke or suspend an order under this section.

(12)  A revocation or suspension does not take effect:

(a)  in the case of an order under subsection (4)—until written notice of the revocation or suspension is given to the society, or

(b)  in the case of an order under subsection (6)—until notice of the revocation or suspension is published in the Gazette.