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Co-operatives Act, 2005 (Act No. 14 of 2005)

Regulations

Co-operatives Administrative Regulations, 2016

Chapter 2 : Winding Up and Judicial Management of Co-operatives

Part A : Winding-Up of Co-operatives

Provisional winding up

77. Inventory of assets and liabilities to be submitted to registrar by co-operative

 

(1) A co-operative being wound up must draw up an inventory of all the assets and liabilities of the co-operative as at the date of commencement of the winding-up and submit such inventory to the registrar within 30 days of such date.

 

(2) The provisions of sub regulation (1) will not apply to a co-operative in respect of which a liquidator is appointed within 30 days of the commencement of the winding-up.

 

(3) If a co-operative fails to comply with a provision of sub regulation (1) every person referred to in regulation 72 will be guilty of an offence.