Part 14 — Winding-up, Liquidation and Dissolution of Cooperatives Division 1 Receivers and Receiver-Managers
312 Dissolution by Registrar
dissolve a cooperative by issuing a certificate of dissolution under
this section if
(a) the cooperative has not comm enced business within 3 years
after the date shown in its certificate of incorporation,
(b) the cooperative has not carried on its business for 3
consecutive years,
(c) the cooperative is in default for a period of one year in
sending the Registrar any fee, notice or document required
by this Act or the regulations, or
(d) all the directors have resigned or been removed and have n ot
been replaced.
(2) The Registrar may not dissolve a cooperative under this section
until
(a) 120 days has elapsed since notice of intent to dissolve has
been given to the cooperative and to each of its directors,
and
(b) notice of intent to dissolve the cooperative has been
published in a publication generally available to the public.
(3) Unless cause to the contrary has been shown or an order has
been made by the Court under section 302 the Registrar may, after
the end of the 120 days referred to in subsection (2), issue a
certificate of dissolution.
(4) The cooperative ceases to exist on the date shown in the
certificate of dissolution.
2001 cC-28.1 s312;2022 c16 s3(91)