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

75. Effects of winding-up on assets of co-operative
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Unless the court or the Tribunal giving a final liquidation order or the registrar otherwise directs, the persons referred to in regulation 8 will as from the commencement of the winding-up of a co-operative up to the appointment of a liquidator jointly and severally be responsible for the custody of all the assets of the co-operative under the co-operative's control.