Part 14 — Winding-up, Liquidation and Dissolution of Cooperatives Division 1 Receivers and Receiver-Managers
313 Court-ordered dissolution for non-compliance
dissolving a cooperative if the cooperative has
(a) failed for 2 or more consecutive years to comply with the
requirements of this Act with respect to the holding of
annual meetings, unless a unanimous agreement contains a
provision that eliminates the need for meetings of
investment shareholders referred to in section 98,
(b) contravened section 23(2), 28(1) to (5), 228 or 230, or
(c) procured any certificate u nder this Act by misrepresentation.
(2) If the applicant under this section is not the Registrar, the
applicant must give the Registrar notice of the application.
(3) The Court may order that the cooperative be dissolved or that it
be liquidated and dissolved under the supervision of the Court, and
the Court may make any other order it thinks fit.
(4) On receipt of an order under this section or section 314, the
Registrar must
(a) if the order is to dissolve the cooperative, issue a certificate
of dissolution in the form set by the Registrar, or
(b) if the order is to liquidate and dissolve the cooperative under
the supervision of the Court, issue a certificate of intent to
dissolve in the form set by the Registrar and publish notice
of the order in a publication generally available to the
public.
(5) The cooperative ceases to exist on the date shown in the
certificate of dissolution.
2001 cC-28.1 s313;2022 c16 s3(91)