454Deregistration of co-operative ceasing to exist

454 Deregistration of co-operative ceasing to exist

(1) As soon as practicable after a co-operative ceases to exist, other than on deregistration of the co-operative under section 444, the Registrar must deregister the co-operative by registering the cessation and cancelling the registration of the co-operative.

(2) The Registrar may remove from a register kept by the Registrar the name of a co-operative that has been deregistered or otherwise ceased to exist.

(3) A co-operative that has transferred its engagements to another co-operative is taken to have ceased to exist.

Part 4.8 Grounds for certain actions

455 Grounds for appointment of administrator, transfer of engagements or winding up of co-operative

(1) This section applies to the following actions:

(a) the appointment of an administrator of a co-operative by the Registrar under Division 3 of Part 4.1;

(b) a direction by the Registrar to a co-operative to transfer its engagements under section 401;

(c) the winding up of a co-operative on a certificate of the Registrar under section 443.

(2) The necessary grounds for taking action to which this section applies exist if the Registrar certifies:

(a) the number of members is reduced to less than the minimum number of persons allowed by or under section 119; or

(b) the co-operative has not started business within one year of registration or has suspended business for more than 6 months; or

(c) the registration of the co-operative has been obtained by mistake or fraud; or

(d) the co-operative exists for an illegal purpose; or

(e) the co-operative has wilfully and after notice from the Registrar violated the provisions of this Law or the rules of the co-operative; or

(f) the board of the co-operative has, after notice from the Registrar, failed to ensure the rules of the co-operative contain active membership provisions required under Part 2.6; or

(g) there are, and have been for one month immediately before the date of the Registrar’s certificate, insufficient directors of the co-operative to form a quorum under the rules of the co-operative; or

(h) after an inquiry under this Law into the affairs of a co-operative or the working and financial condition of a co-operative—in the interests of members or creditors of the co-operative or the public, the action concerned should be taken.

(3) Alternatively, the necessary grounds for winding up a co-operative on a certificate of the Registrar exist if the Registrar certifies:

(a) the period (if any) fixed for the duration of the co-operative by its rules has ended; or