Section 95: Appointment of liquidator
consolidated text (as at 2018, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
95. Appointment of liquidator
(1) Where the Registrar has made an order for winding up a society, he
may appoint a liquidator on such terms and conditions as he may determine.
(2) No person shall be appointed as liquidator unless he is a Principal Cooperative Auditor, an auditor or a person who holds or has held office as Cooperative Officer for at least 8 years.
(3) A liquidator shall, on appointment—
(a) take immediate control of all the assets of the society and all
books, records and such other documents pertaining to its
business; and
(b) take such steps as he may determine to prevent the loss or
deterioration of, or damage to, the assets.
(4) Where an appeal is made against an order to wind up a society—
(a) all proceedings under the order shall be stayed until the appeal is
determined; and
(b) the property of the society shall remain vested in the liquidator.