Part 14 — Winding-up, Liquidation and Dissolution of Cooperatives Division 1 Receivers and Receiver-Managers
329 Revival
interested person, or a person who would be an interested person if
a certificate of revival were issued, may apply to the Registrar at
any time to have the cooperative revived.
(1.1), (1.2) Repealed 2021 c18 s76.
(2) Articles of revival in the form set by the Registrar must be sent
to the Registrar together with any other information that may be
requested by the Registrar.
(3) On receipt of articles of revival that comply with this Act and
the regulations, the Registrar must issue a certificate of revival.
(4) Repealed 2022 c16 s3(62).
(5) A cooperative is revived under this Act on the date shown in
the certificate of revival.
(6) In the same manner and to the same extent as if it had not been
dissolved, but subject to any reasonable terms that may be imposed
by the Registrar and to the rights acquired by any person after its
dissolution, a revived cooperative is
(a) restored to its previous position in law, including the
restoration of all its property whether acquired before its
dissolution or after its dissolution and before its revival, and
any rights and privileges, whether arising before its
dissolution or after its dissolution and before its revival, and
(b) liable for the obligations that it would have had if it ha d not
been dissolved, whether they arise before its dissolution or
after its dissolution and before its revival.
(7) Any legal action respecting the affairs of a revived cooperative,
other than those with its affiliates, taken after its dissolution and
before its revival is valid.
2001 cC-28.1 s329;2007 cU-1.5 s70;2021 c18 s76;2022 c16 s3(62)