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

Regulations

Co-operatives Administrative Regulations, 2016

Chapter 2 : Winding Up and Judicial Management of Co-operatives

Part A : Winding-Up of Co-operatives

Liquidation, trading, distribution and contribution accounts and application of proceeds

110. Inspection of liquidation, distribution or contribution account by interested persons
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(1)Every liquidation, distribution or contribution account or a copy thereof must be made available in the Co-operatives Division of the Companies and Intellectual Property Commission, and, if the registered office of the co-operative is not situated in the magisterial district of Pretoria, also in the office of the magistrate of the district in which the registered office of the co-operative is situated, for such period as may be determined by the registrar, for inspection by interested persons.

 

(2)The liquidator must give notice to interested persons in the Gazette and in a newspaper circulating in the area in which the registered office of the co-operative is situated of the period for which and the place or places where the liquidation, distribution or contribution account will be available for inspection and that objection against such account may be lodged with the registrar before a date to be stated in the notice, which must be a date not less than seven days after the end of the said period.

 

(3)The magistrate of the office where an account is available for inspection must affix a notice in a public place in or at his or her office in which is mentioned that the account concerned is available in his or her office for inspection by interested persons during the relevant period, and must upon the expiry of such period issue a certificate that the relevant account was available for inspection during the relevant period and transmit the certificate and account to the registrar.