61AWinding up on Secretary’s certificate

61A Winding up on Secretary’s certificate

61A Winding up on Secretary’s certificate

(cf Co-operatives National Law (NSW), section 443)

(1) An association may be wound up on a certificate of the Secretary if—

(a) the association ceases operations, or

(b) the association ceases to have 5 or more members, or

(c) the association’s committee has not been able to form a quorum for 2 months, or

(d) the Secretary is satisfied that there is a significant public interest in winding up the association or that not winding up the association may place public funds at risk.

(2) Before giving a certificate, the Secretary—

(a) must give notice of the proposed certificate to be given to the association stating the ground or grounds referred to in subsection (1) that the Secretary believes exist, and

(b) must give the association and its members at least 28 days within which to make submissions to the Secretary with respect to the proposed certificate, and

(c) must give due consideration to any submissions that are made within that period.

(3) (Repealed)

(4) A winding up on a certificate of the Secretary starts when the certificate is given.

(5) On the giving of a certificate, the Secretary may appoint a person to be the liquidator of the association.

(6) The liquidator must, within 10 days after appointment, give notice of his or her appointment in the manner prescribed by the regulations (if any).

(7) A vacancy occurring in the office of liquidator is to be filled by a person appointed by the Secretary.

(8) The Secretary may fix—

(a) the security to be given by a liquidator, and

(b) the fees payable to a liquidator.

s 61A: Ins 2016 No 1, Sch 1 [16]. Am 2020 No 30, Sch 1.4; 2024 No 25, Sch 6.2[1].