Pending wind‑up
504 Pending wind‑up
If immediately before the day the former Acts are repealed a co‑operative company or registered society has started to be wound‑up but the winding‑up has not been completed —
the process of winding‑up is to be completed under the former Act; and
the company or society continues to be incorporated under and be regulated by the former Act until it is dissolved.
For the purposes of this section —
the winding‑up of a co‑operative company or registered society starts when a court has ordered the winding‑up or the company or society has passed a resolution for winding‑up; and
the winding‑up of a co‑operative company or registered society has been completed when the company or society is dissolved.
[Part 20 (s. 505-518) omitted under the Reprints Act 1984 s. 7(4)(e).]
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