Change of name of co‑operative
241 Change of name of co‑operative
A co‑operative may by special resolution change its name to a name approved by the Registrar.
A change of name must be advertised as prescribed by the regulations.
A change of name does not take effect until —
the Registrar has noted the change on the certificate of registration of the co‑operative; or
the certificate of registration is surrendered to the Registrar and a replacement certificate of registration is issued in the new name.
A change of name by a co‑operative does not affect —
the identity of the co‑operative; or
the exercise of a right, or the enforcement of an obligation, by or against the co‑operative or a person; or
the continuation of legal proceedings by or against the co‑operative.
Legal proceedings that might have been continued or started by or against the co‑operative in its former name may be continued or started by or against the co‑operative in its new name.
The Registrar may refuse to approve a change of name if the Registrar thinks the new name is unsuitable.
The Registrar may direct a co‑operative to change its name if the Registrar considers the name is likely to be confused with the name of a corporation or a registered business name.
A co‑operative that is given a direction under subsection (7) must comply with the direction.
Penalty for this subsection: a fine of $500.
Despite The Criminal Code section 23B(2), it is immaterial for the purposes of subsection (8) that any event occurred by accident.
[Section 241 amended: No. 7 of 2016 s. 82.]
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