Co-operatives Act 2009

A co‑operative may be wound‑up voluntarily only —

by a creditors’ voluntary winding‑up; or

if a special resolution is passed by means of a special postal ballot in favour of voluntary winding‑up.

When a special postal ballot referred to in subsection (1)(b) is held, the members may, by means of the same ballot, by simple majority —

appoint one or more liquidators to wind up the affairs and distribute the assets of the co‑operative; and

fix the remuneration to be paid to the liquidator.

The Registrar may, by order published in the Gazette, exempt a co‑operative or class of co‑operatives from compliance with a provision of this section or section 186.

An exemption may be granted unconditionally or subject to conditions.