Co-operatives Act 2009

Subsection (2) applies if immediately before the day the former Acts are repealed a co‑operative company or registered society is engaged in any of the following processes —

in the case of a co‑operative company, the company has 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;

in the case of a registered society, the society has 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;

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

If a co‑operative company or registered society is engaged in a process referred to in subsection (1) —

the process is to be completed under the former Act; and

the company or society continues to be incorporated and be regulated by the former Act until either the process is completed or an event occurs that prevents the process from being completed.