sec.471Supreme Court may order winding up

sec.471 Supreme Court may order winding up

The Supreme Court may order the winding up of a participating co-operative if— the co-operative’s authorisation to carry on business in this jurisdiction has been withdrawn under this Law; or the co-operative has been deregistered or has ceased to exist as a co-operative in the place in which it was registered, incorporated or formed or has ceased to carry on business in that place. The Registrar may apply to the Supreme Court for the winding up of a participating co-operative on any of the grounds referred to in subsection (1) . The Registrar must give a copy of an application made under this section to the participating co-operative the subject of the application if it is still in existence. (sec.471-ssec.1) The Supreme Court may order the winding up of a participating co-operative if— the co-operative’s authorisation to carry on business in this jurisdiction has been withdrawn under this Law; or the co-operative has been deregistered or has ceased to exist as a co-operative in the place in which it was registered, incorporated or formed or has ceased to carry on business in that place. (sec.471-ssec.2) The Registrar may apply to the Supreme Court for the winding up of a participating co-operative on any of the grounds referred to in subsection (1) . (sec.471-ssec.3) The Registrar must give a copy of an application made under this section to the participating co-operative the subject of the application if it is still in existence.

• (a) the co-operative’s authorisation to carry on business in this jurisdiction has been withdrawn under this Law; or
• (b) the co-operative has been deregistered or has ceased to exist as a co-operative in the place in which it was registered, incorporated or formed or has ceased to carry on business in that place.