sec.443Winding up on Registrar’s certificate

sec.443 Winding up on Registrar’s certificate

A co-operative may be wound up on a certificate of the Registrar only if the necessary grounds for taking the action exist, as referred to in section 455 . A winding up on a certificate of the Registrar starts when the certificate is given. On the giving of a certificate, the Registrar may appoint a person to be the liquidator of the co-operative. The person appointed by the Registrar must be a registered liquidator within the meaning of the Corporations Act , but the Registrar may appoint a person who is not a registered liquidator if the Registrar forms the view that the likely costs of administration by a registered liquidator are excessive taking into account the known assets of the co-operative and the expected extent of debt of the co-operative. The liquidator must, within 10 days after appointment, give notice of his or her appointment by designated instrument. A vacancy occurring in the office of liquidator is to be filled by a person appointed by the Registrar. The Registrar may fix— the security to be given by a liquidator; and the fees payable to a liquidator. (sec.443-ssec.1) A co-operative may be wound up on a certificate of the Registrar only if the necessary grounds for taking the action exist, as referred to in section 455 . (sec.443-ssec.2) A winding up on a certificate of the Registrar starts when the certificate is given. (sec.443-ssec.3) On the giving of a certificate, the Registrar may appoint a person to be the liquidator of the co-operative. (sec.443-ssec.4) The person appointed by the Registrar must be a registered liquidator within the meaning of the Corporations Act , but the Registrar may appoint a person who is not a registered liquidator if the Registrar forms the view that the likely costs of administration by a registered liquidator are excessive taking into account the known assets of the co-operative and the expected extent of debt of the co-operative. (sec.443-ssec.5) The liquidator must, within 10 days after appointment, give notice of his or her appointment by designated instrument. (sec.443-ssec.6) A vacancy occurring in the office of liquidator is to be filled by a person appointed by the Registrar. (sec.443-ssec.7) The Registrar may fix— the security to be given by a liquidator; and the fees payable to a liquidator.

• (a) the security to be given by a liquidator; and
• (b) the fees payable to a liquidator.