63Amendment does not take effect until registered

63 Amendment does not take effect until registered

63 Amendment does not take effect until registered

(1) An amendment of the rules of a co-operative does not take effect unless and until it is registered by the Registrar.

(2) An application for registration of an amendment must—

(a) be made in the approved form; and

(b) be made within 28 days, or a shorter or longer time prescribed by the National Regulations, after the amendment is made; and

(c) be accompanied by a consolidated copy of the rules of the co-operative, including the amendment.

(3) The Registrar must register the amendment unless—

(a) the Registrar is satisfied the amendment is contrary to this Law; or

(b) the Registrar has other reasonable cause to refuse to register the amendment.

(4) A certificate of registration of an amendment of the rules of a co-operative given by the Registrar is, in favour of any person advancing money to the co-operative on the faith of the certificate or a guarantor of that advance, evidence that the amendment in the rules was properly made.