law: Co-Operative Societies Act 2008 
  66.
  
  Misappropriation etc.
  1.      When the Supervisory
  
  Committee is of the opinion that the funds, securities or other property of the
  
  credit union or other society have been misappropriated or misdirected, or in
  
  the event that the by- the credit union, or other society, this Act or the Regulations
  
  have been contravened by the Board, the Credit Committee or a member thereof or
  
  an officer or employee engaged by the Board the Supervisory Committee shall
  
  forthwith inform the Registrar in writing.
  2.      The Supervisory
  
  Committee shall with the approval of the Board appoint an auditor or some other
  
  body to assist in determining whether any of the funds, securities or other
  
  property of the credit union have been misappropriated or misdirected and the
  
  remuneration of any auditor or other body so appointed shall be determined by
  
  the Supervisory Committee and paid by the credit union or other society.
  3.      In the event of a
  
  misappropriation or misdirection or a suspected misappropriation or suspected
  
  misdirection as referred to in subsection (1), the Supervisory Committee may
  
  suspend any member of the Board.
  4.      The Supervisory
  
  Committee shall forthwith request the Board to summon a general meeting of the
  
  members to be held within 14 days after the suspension referred to in
  
  subsection (3); and where the Board fails to summon such a meeting the
  
  Supervisory Committee shall summon the meeting within 7 days after the expiry
  
  of the period of 14 days.
  5.      The Supervisory
  
  Committee shall report to the general meeting all the circumstances of any
  
  misappropriation or misdirection of funds, securities or other property and the
  
  reasons for any suspension.
  6.      The members of the
  
  credit union or other society may, by resolution, dismiss from office any
  
  person suspended under subsection (3), and, when the members of the credit
  
  union or other society do not dismiss from office any person so suspended, that
  
  person shall be reinstated forthwith.