Co-operatives Act, 2005 (Act No. 14 of 2005)

Chapter 9 : Winding-up or De-registration of Co-operatives

72B. Winding-up by order of Tribunal

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The Tribunal may order that a co-operative be wound up if—

(a)the co-operative has more than once been convicted of an offence in terms of section 19(4);
(b)for a continuous period of two years, the co-operative has not—
(i)transacted business;
(ii)submitted the annual reports or the equivalent thereof as required in terms of this Act; and
(iii)held annual general meetings;
(c)the co-operative was formed for a particular period or for the occurrence of a particular event and that period has expired or that event has occurred;
(d)after an investigation, the Tribunal is of the opinion that the incorporation of the co-operative was obtained through fraud or was not fully in compliance with this Act; or
(e)after receiving written affidavits from members of the co-operative or after an investigation, the Tribunal is of the opinion that the co-operative does not carry out its objectives according to co-operative principles as required by this Act.

 

[Section 72B inserted by section 57 of Notice No. 558, GG 36729, dated 5 August 2013]