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

Provisional winding up

71. Effects of winding-up on status of co-operative and on Board of directors
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(1)A co-operative being wound up will continue to be a juristic person, but will as from the commencement of its winding-up cease to carry out its objects except in so far as it is necessary for the purposes of its winding-up.

 

(2)The functions of the Board of directors of a co-operative being wound up will terminate at the commencement of its winding-up except in so far as the continuation thereof has been approved by the registrar or liquidator.