Section 47
Suspension of officer of co-operative society
of Co-Operative Societies Act 1993
If any proceedings are instituted against an officer of a co-operative society in respect of a registrable offence or an offence under this Act, then—
(a)
the Board of that co-operative society shall suspend such officer from being an officer of that co-operative society;
and
(b)
if such officer is also an officer of the Board of any other co-operative society, the Board of that other co-operative society shall suspend such officer from being an officer of that other co-operative society, from the time he is first charged in court until the final determination of the proceedings against him, including any further proceedings by way of appeal, and he shall accordingly cease to exercise any rights or perform any functions or duties in respect of such office and he shall not receive any remuneration in respect of such office during the period of suspension.
(2)
If an officer who has been suspended under subsection (1) is, upon the final determination of the proceedings against him, acquitted, he shall be paid such remuneration as would have been payable to him during the period of suspension but for the provisions of subsection
(1)
.