Effect of appointment of administrator
325 Effect of appointment of administrator
On the appointment of an administrator of a co‑operative —
the directors of the co‑operative cease to hold office; and
all contracts of employment with the co‑operative are terminated; and
all contracts for the provision of secretarial or administrative services for the co‑operative are terminated; and
the administrator may terminate any contract for providing other services to the co‑operative.
An administrator of a co‑operative has the functions of the board of the co‑operative, including the board’s powers of delegation.
A director of a co‑operative cannot be appointed or elected while the administrator is in office except as provided by this Subdivision.
[Section 325 amended: No. 7 of 2016 s. 117.]
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