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s 496

Co‑operative companies and registered societies to register under this Act

In force
Part 19Transitional and savings provisions
Division 3Transfer to incorporation under this Act

496 Co‑operative companies and registered societies to register under this Act

(1)

Unless subsection (2) applies, a co‑operative company or a registered society must apply for registration under Part 2 Division 5 not later than 3 months before the end of the transition period.

(2)

A co‑operative company or a registered society is not required to register as a co‑operative under this Act if it has —

(a)

applied for incorporation under another written law, and not had that application refused; or

(b)

in the case of a co‑operative company, applied to the Court for an order under the Companies (Co‑operative) Act 1943 Part IV Division 12 sanctioning a scheme for reconstruction or amalgamation that will, when implemented, result in the dissolution of the company, and not had that application refused; or

(c)

in the case of a registered society, passed a special resolution under the Co‑operative and Provident Societies Act 1903 section 41 or 42 to amalgamate or transfer its engagements and is proceeding to give effect to that resolution; or

(d)

in the case of a registered society, voted under the Co‑operative and Provident Societies Act 1903 section 46 to dissolve the society and is proceeding towards dissolution; or

(e)

commenced to be wound‑up.

(3)

The Companies (Co‑operative) Act 1943 section 176A does not prevent a co‑operative company from becoming registered as a co‑operative under this Act.

(4)

The Co‑operative and Provident Societies Act 1903 section 42 does not prevent a registered society from becoming registered as a co‑operative under this Act.

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