Decision of Registrar on application to register special resolution
244 Decision of Registrar on application to register special resolution
If the Registrar is satisfied the co-operative has complied with this Law and the special resolution is not contrary to this Law, the Registrar must register the special resolution and may issue a certificate of registration.
If the Registrar considers the effect of a special resolution filed for registration would be in contravention of this Law or any other law, the Registrar—
may refuse to register the special resolution; and
must give written notice to the co-operative that the special resolution—
for a special resolution referred to in section 242 (2)—has no effect; and
in any other case—has no effect as from the date it was passed.
A certificate of registration of a special resolution issued by the Registrar is, in favour of any person advancing money to the co-operative on the faith of the certificate or in favour of any guarantor of that advance, evidence that the resolution was properly passed.
This Act’s bill:Explanatory memorandumSecond reading speech
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