Part 5 — Capital Structure Division 1 Membership Capital
142 Enforcement of contract to buy shares
buy investment shares of the cooperative unless the cooperative can
prove that enforcement of the contract would put it in breach of
section 129(2) or section 131.
(2) Until the cooperative has fulfilled all its obligations under a
contract referred to in subsection (1), the other party retains the
status of claimant entitled to be paid as soon as the cooperative is
lawfully able to do so or, in a liquidation, to be ranked subordinate
to the rights of creditors and to the rights of any class of investment
shareholders whose rights were in priority to the rights given to the
class of investment shares being purchased, but in priority to the
rights of members and other investment shareholders.