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s 499

Inspections or inquiry

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Part 19Transitional and savings provisions
Division 4General transitional provisions

499 Inspections or inquiry

(1)

If immediately before the transfer day for a transferred co‑operative an inspection or inquiry into the affairs of the co‑operative as previously incorporated has started under the Companies (Co‑operative) Act 1943 and not been completed, the inspection or inquiry is to be completed under that Act whether or not it has been repealed.

(2)

For the purposes of this section, an inspection or inquiry is completed when the findings of that inspection or inquiry are reported.

(3)

The reported findings of an inspection or inquiry completed under subsection (1) in relation to a transferred co‑operative may, in relation to that co‑operative, be used for any purpose that the reported findings of an inquiry or inspection under this Act may be used for.

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