OCBA - Supervision and protection

Supervision and protection

Ordinary inspection powers

The ordinary inspection powers of Division 1 allow an inspector appointed by CBS:

to require a co-operative or an involved person to produce relevant documents

to require an involved person to attend before an inspector and answer questions

to enter premises

on premises authorised to enter to:
- search for evidence or relevant documents
- require production of relevant documents
- require an involved person to answer questions
- take possession of documents
to apply for a search warrant to enter premises and exercise the above powers and

to call on police aid if the person believes they will be obstructed.

An involved person in relation to a co-operative includes one who:

is or has been an officer or employee

acts in any capacity for or on behalf or

has, or was a party to the creation of, any relevant documents.

The powers apply in respect of:

a co-operative
foreign co-operative (a co-operative under a law outside South Australia)

subsidiary of co-operative or foreign co-operative or

co-operative venture

any of foregoing that is in the course of being wound up or has been dissolved. (s4, 383, 384)

Division 2 allows an inspector appointed by CBS to interview other involved persons and to obtain evidence including documents. This applies to an inquiry into the affairs of a co operative if CBS considers that it is desirable to do so for the protection or otherwise in the interests of the public or of the members or creditors.

An involved person includes one who is indebted to a co-operative, and a person who is capable of giving information relating to the affairs of a co-operative. The person may be required to produce documents that relate to the affairs of a co-operative. Affairs includes loans made to a co-operative, or the circumstances in which a person placed, withdrew or disposed of funds with, or loans to, a co-operative.

An involved person who attends for examination by an investigator is to be paid prescribed allowances and expenses. An investigator is to formally report to CBS providing an opinion in relation to the affairs of the co-operative and the findings on which the opinion is based. CBS may retain any produced document accompanying the report for purposes including in relation to legal proceedings.

The provisions are suited to circumstances where CBS engages an external expert to inquire into the affairs of a co-operative.

Extension or abridgement of time

CBS may extend or abridge any time for anything to be done by a co-operative under the Act or the regulations. The power to extend applies even if the obligation has crystallised. (s421)

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Supervision and protection

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Ordinary inspection powers

Inquiries

Extension or abridgement of time