423Power of Court to restrain further proceedings

#### 423 Power of Court to restrain further proceedings 423 Power of Court to restrain further proceedings > > (1) If a proposed compromise or arrangement is made between a co-operative and any of its creditors and no order has been made or resolution passed for the winding up of the co-operative, the Supreme Court may restrain further proceedings in an action or other civil proceedings against the co-operative except by leave of the court and on the terms the court imposes. > > > (2) The Supreme Court’s power under this section is in addition to any of its other powers and must not be exercised except on application by the co-operative or a creditor or member of the co-operative.