Part 14 — Winding-up, Liquidation and Dissolution of Cooperatives Division 1 Receivers and Receiver-Managers
319 Cessation of business and powers
cooperative,
(a) the cooperative continues in existence but must cease to
carry on business, except the business that is, in the
liquidator's opinion, required for an orderly liquidation, and
(b) the powers of the directors, members and investment
shareholders cease and vest in the liquidator, except as
specifically authorized by the Court.
(2) The liquidator may delegate any of the powers vested in the
liquidator by subsection (1)(b) to the directors or members.