43Appointment of administrator

43 Appointment of administrator

43 Appointment of administrator

(1) The Registrar may, by written notice, appoint an administrator to conduct the affairs of a co-operative housing body and may, by written notice, revoke the appointment.

(2) A notice of appointment must specify—

(a) the date of appointment, and

(b) the appointee’s name, and

(c) the appointee’s business address.

(3) If the appointee’s name or business address changes, the appointee must immediately give written notice of the change to the Registrar.

(4) The Registrar must not appoint an administrator unless—

(a) the Registrar is of the opinion that—

(i) the co-operative housing body has contravened this Act or its rules and, after being given written notice of the contravention by the Registrar, has allowed the contravention to continue or has again contravened this Act or those rules, or

(ii) the body is trading unprofitably or has an accumulated deficit in its accounts, or

(iii) the affairs of the body are being conducted in an improper or financially unsound way, or

(b) after making such inquiries in relation to the body as the Registrar considers appropriate, the Registrar is satisfied that it is in the interest of members or creditors that the body’s affairs be conducted by an administrator, or

(c) the Registrar has certified that—

(i) the body 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, or

(ii) an event (specified in the certificate) has happened on the happening of which the regulations or the body’s rules provide that the body is to be wound-up, or

(iii) there are, or have been for a period of 1 month immediately before the date of the certificate, insufficient directors of the body to constitute a quorum as provided by the body’s rules.

(5) On the appointment of an administrator of a co-operative housing body—