176Winding-up on certificate of Registrar

#### 176 Winding-up on certificate of Registrar 176 Winding-up on certificate of Registrar > > (1) In the case of a winding-up on a certificate of the Registrar, the society may be wound-up if the Registrar certifies that any of the following events has happened— > > > > > (a) that the number of members is reduced to less than 7 and no borrowing members remain, > > > > > (b) that the society has not started business within a year of registration or has suspended or ceased to carry on business for a period of more than 6 months, > > > > > (c) that an event (to be specified in the certificate) has happened on the happening of which the regulations or the society’s rules provide that the society is to be wound-up, > > > > > (d) that the registration of the society has been obtained by mistake or fraud, > > > > > (e) that the society exists for an illegal purpose, > > > > > (f) that the society has, after notice by the Registrar of any contravention of this Act or the society’s rules, failed, within the time specified in the notice, to remedy the contravention or has committed any further contravention of a kind specified in the notice, > > > > > (g) that there are, and have been for a period of one month immediately before the date of the certificate, insufficient directors of the society to constitute a quorum as provided by the society’s rules, > > > > > (h) that, because of an investigation under this Act into the affairs of the society, it is in the interests of the public or of members or creditors that the society be wound-up. > > > (2) The Registrar must not so certify unless the event has been proved to the Registrar’s satisfaction. > > > (3) If the Registrar so certifies, the Registrar may appoint a person to be the liquidator of the society. > > > (4) The liquidator appointed by the Registrar may be employed in the office of the Registrar and, if so, need not be a registered liquidator under the Corporations Act. > > > (5) The liquidator, unless employed in the Registrar’s office, is entitled to receive an amount of remuneration that the Registrar considers appropriate, having regard to the rate of payment that normally would apply for such an appointment. > > > (6) Any vacancy in the office of a liquidator appointed under subsection (3) must be filled by a person appointed by the Registrar for the purpose. > > > (7) A winding-up on a certificate of the Registrar is taken to commence at the date of the certificate of the Registrar. > > > (8) The liquidator must, within 14 days after the appointment, give notice of the appointment by Gazette notice. > > **s 176:** Am 1999 No 2, Sch 4 \[6\]; 2000 No 93, Sch 1.5 \[5\]; 2001 No 34, Sch 4.11 \[18\].