Co-operative Societies Act 1979 · 2020 Revised Edition · Part 8 · Duties and Powers of Registrar
84. Powers of liquidator
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Subject to any order made by the Registrar under section 85, a liquidator appointed by the Registrar has power to —
Registrar
“Registrar” means the Registrar of Co‑operative Societies appointed under section 3(1), and includes a Deputy Registrar, an Assistant Registrar, or a public officer appointed under section 3(1), exercising such function, duty or power of the Registrar as is delegated to the Deputy Registrar, Assistant Registrar or public officer (as the case may be) under section 3(2);
take immediate possession of all assets belonging to the society and of all books, records and other documents pertaining to the business thereof;
carry on the business of the society so far as may be necessary for winding up beneficially, except that the liquidator is not for this purpose entitled to issue any loan;
fix by notice in the Gazette a day before which creditors must state their claims for admission or be excluded from any distribution made before they have proved them;
refer a dispute to arbitration and institute and defend suits and other legal proceedings on behalf of the society by the liquidator’s name or office;
give such directions in regard to the collection and realisation of assets as may be necessary in the course of winding up the society;
investigate all claims against the society and, subject to the provisions of this Act, decide by order questions of priority arising between claimants;
pay claims against the society (including interest payable up to the date of the winding up order) according to the respective priorities (if any) in full or to such extent as the assets of the society permit;
compromise any claim by or against the society, provided that the Registrar’s approval has first been obtained;
call such meetings of members as may be necessary for the proper conduct of the liquidation, giving at least 15 clear days’ notice of every such meeting;
decide by order subject to any by-law limiting the liability of members and subject to sections 46 and 47 the contributions to be made by members, past members or by the estates of deceased members of the society to its assets;
arrange for the distribution of the assets of the society in a convenient manner when a scheme of distribution has been approved by the Registrar; and
order by what persons and in what proportions the costs of the liquidation are to be borne.
Any person aggrieved by any order of the liquidator made under subsection (1)(f), (j) or (l) may appeal in writing to the Registrar within 30 days after the date of the order.
A person aggrieved by a decision of the Registrar under subsection (2) may appeal in writing to the Minister within 30 days after the decision and the decision of the Minister is final and conclusive.
A liquidator must deposit the funds and other assets of a dissolved society which are collected by the liquidator or which come into the liquidator’s possession as liquidator in such manner and in such place as may from time to time be determined by the Registrar.
deposit
“deposit” means money received on current or deposit account and includes subscription capital, but does not include —(a)a deposit that is paid pursuant to a hire-purchase agreement, or that is referable to the provision of services or to the giving of security; and(b)such other deposit as may be prescribed;
A liquidator must, once in every 3 months, submit to the Registrar a report stating the progress made in winding up the affairs of the society, and must, on completion of the liquidation proceedings, submit a final report and hand over to the Registrar all books, registers and accounts relating to the proceedings kept by the liquidator.
society
“society” means a co-operative society registered under this Act and includes a primary society, a secondary society and an apex organisation;
A liquidator appointed under this Act, insofar as such powers are necessary for carrying out the purposes of this section, has power to summon and enforce the attendance of parties and witnesses and to compel the production of documents by the means and, so far as may be, in the same manner as is provided in the case of a District Court.