461Withdrawal of authorisation to carry on business

461 Withdrawal of authorisation to carry on business

461 Withdrawal of authorisation to carry on business

(1) The Registrar may give written notice to a participating co-operative requiring it to show cause (a show cause notice), within the period specified in the notice, why its authorisation to carry on business in this jurisdiction should not be withdrawn on any one or more of the following grounds—

(a) that the name under which the co-operative carries on business or proposes to carry on business in this jurisdiction does not comply with this Part;

(b) that the co-operative has, after notice from the Registrar, failed to comply with—

(i) provisions of this Law or of a corresponding co-operatives law applicable to the co-operative; or

(ii) provisions of the rules of the co-operative;

(c) that the co-operative has contravened a direction given to it under section 468.

(2) A show cause notice may be given if the Registrar is of the opinion that there are reasonable grounds to do so.

(3) The show cause notice must specify the period, being at least 14 days, within which it must be complied with.

(4) The participating co-operative may, within the period specified in the show cause notice, make oral or written submissions to the Registrar and provide evidence with respect to any of the matters to which the notice relates.

(5) The Registrar must consider any submissions made, or evidence adduced, within the period required by the show cause notice and may, if the Registrar is satisfied that any of the grounds referred to in subsection (1) have been established in relation to the participating co-operative, give the co-operative a written notice withdrawing its authorisation to carry on business in this jurisdiction.

(6) The Registrar may withdraw a show cause notice or other notice given under this section.

(7) The Registrar may, on application or otherwise, by notice given to a participating co-operative, revoke the cancellation of its authorisation to carry on business in this jurisdiction. The co-operative is taken to be authorised to carry on business in this jurisdiction on and from the date the notice is given to the co-operative or a later date specified in the notice.