CHAPTER 185
CO-OPERATIVE AUDIT AND SUPERVISION ACT

[PRINCIPAL LEGISLATION]

ARRANGEMENT OF SECTIONS

   Section

Title

PART I
PRELIMINARY PROVISIONS

   1.   Short title.

   2.   Interpretation.

PART II
THE CO-OPERATIVE AND AUDIT SUPERVISION CORPORATION

   3.   Establishment of the Corporation.

   4.   Functions of the Corporation.

   5.   Management of the Corporation.

PART III
AUDIT, INSPECTION AND INQUIRIES

   6.   Audit.

   7.   Special inspection.

   8.   Inspection by Registrar.

   9.   Inspection on behalf of a creditor.

   10.   Costs of inspection.

   11.   Jurisdiction of courts.

PART IV
FINANCIAL PROVISIONS

   12.   Funds and resources of the Corporation.

   13.   Investment.

   14.   Power to borrow.

   15.   Annual and supplementary budget.

   16.   Accounts and audit.

   17.   Annual statements on accounts and report to be submitted to the Minister.

   18.   Annual statement and report to be laid before the National Assembly.

PART V
MISCELLANEOUS PROVISIONS

   19.   Remuneration of members of the Board.

   20.   Delegation of powers.

   21.   Liabilities of members of the Board.

   22.   Dissolution of Audit and Supervision Fund.

   23.   Saving of rules and regulations.

   24.   Rules and regulations.

SCHEDULES

CHAPTER 185
THE CO-OPERATIVE AUDIT AND SUPERVISION ACT

An Act to establish Co-operative Audit and Supervision Corporation, to provide for its functions and to provide for matters related to audit, supervision and inspection of books of accounts of co-operative societies.

[1st July, 1985]
[G.N. No. 399 of 1985]

Acts Nos.
15 of 1982
2 of 1988

PART I
PRELIMINARY PROVISIONS (ss 1-2)

1.   Short title

   This Act may be cited as the Co-operative Audit and Supervision Act.

2.   Interpretation

   In this Act, unless the context otherwise requires–

   "apex organisation" means a registered co-operative society the area of whose operation extends throughout Tanzania;

   "Board" means the Board of Directors established under section 5(1);

   "committee" means a body responsible for the management of the affairs of a registered society;

   "Corporation" means the Co-operative Audit and Supervision Corporation established under section 3;

   "Director-General" means the Director-General of the Co-operative Audit and Supervision Corporation appointed under section 5(3);

   "Minister" means the Minister responsible for matters pertaining to co-operative societies;

   "officer" has the same meaning ascribed to it by the Co-operative Societies Act *;

   "primary society" has the meaning assigned to it by the Co-operative Societies Act *;

   "Registrar" has the meaning ascribed to it by the Co-operative Societies Act *;

   "secondary society" has the meaning assigned to it by the Co-operative Societies Act *.

PART II
THE CO-OPERATIVE AUDIT AND SUPERVISION CORPORATION (ss 3-5)

3.   Establishment of the Corporation

   (1) There is hereby established, a body corporate to be known as the Co-operative Audit and Supervision Corporation.

   (2) The Corporation shall–

   (a)   have perpetual succession and an official seal;

   (b)   in its corporate name, be capable of suing or being sued;

   (c)   subject to the provisions of this Act, be capable of holding, purchasing and otherwise acquiring in any other way any movable or immovable property or of disposing of any of its property.

4.   Functions of the Corporation

   (1) Subject to this section, functions of the Corporation shall be–

   (a)   to provide audit and supervision services to co-operative societies;

   (b)   to give advice on audit and accounting procedures and to formulate audit and accounting policy for adoption by the societies;

   (c)   to do any other thing which may facilitate the proper exercise of the functions of the Corporation.

   (2) The Corporation shall be responsible for and shall perform in accordance with the best professional standards and, except where it is otherwise provided in any other written law, within twelve months of the end of the financial year concerned, audit accounts of any co-operative society, or such other body as may be prescribed by the Minister or Registrar as the case may be.

   (3) The Corporation may provide its services, upon such terms and conditions as may be agreed, to a co-operative society or any other person.

   (4) The Corporation shall, if required by any written direction of the Minister or Registrar, so to do, provide its services upon such terms and conditions as may be specified in such direction, to any person or body of persons whether corporate or unincorporate.

   (5) The Corporation may from time to time, appoint on such terms and conditions as it may think fit such officers as it may consider necessary for the performance of its functions and may enter into such arrangements with persons or firms for the supply of services or facilities to the Corporation as it may consider desirable.

   (6) The Corporation shall have power to do any other thing which is necessary or expedient for the proper carrying out of its functions under this Act.

   (7) Subject to special direction by the Minister in the exercise of its functions under this section, the Corporation shall not be subject to the direction or control of any other person or authority.

5.   Management of the Corporation

   (1) There shall be a Board of Directors of the Corporation which shall, subject to this Act, be responsible for the performance by the Corporation of its functions and for the control and management of the Corporation.

   (2) The provisions of the First Schedule shall have effect in respect of the composition, constitution and proceedings of the Board.

   (3) The President shall appoint a public officer to be the Director-General.

   (4) The Director-General shall be responsible for the day to day administration of the Corporation.

PART III
AUDIT, INSPECTION AND INQUIRIES (ss 6-11)

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