Tasmanian Numbered Acts Tasmanian Numbered Acts329. Revocation of appointment
(1) An administrator holds office until the administrator's appointment is revoked.
(2) The Commissioner may, by written notice, revoke the appointment of an administrator.
(3) When a liquidator of a cooperative is appointed, the appointment of any administrator of the cooperative is automatically revoked.
(4) Immediately on the revocation of an administrator's appointment, the administrator must prepare and submit a report to the Commissioner showing how the administration was carried out, and for that purpose an administrator has access to the cooperative's records and documents.
(5) On providing the report and accounting fully in relation to the administration of the cooperative to the satisfaction of the Commissioner, the administrator is released from any further duty to account in relation to the administration of the cooperative other than on account of fraud, dishonesty, negligence or wilful failure to comply with this Act or the regulations.
(6) Before revoking the appointment of an administrator of a cooperative, the Commissioner must –
(a) appoint another administrator; or
(b) appoint a liquidator; or
(c) ensure that directors of the cooperative have been elected in accordance with the rules of the cooperative at a meeting convened by the administrator in accordance with those rules; or
(d) appoint directors of the cooperative.
(7) Directors elected or appointed under subsection (6) –
(a) take office on revocation of the administrator's appointment; and
(b) in the case of directors appointed under subsection (6), hold office until the next annual general meeting of the cooperative after the revocation of that appointment.