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

Chapter 8 : Amalgamation, Division, Conversion and Transfer

61. Effect of registration of co-operatives constituted in terms of division

 

As from the date of the last registration of a co-operative constituted in terms of a division—

(a) the registration of the co-operative being divided is cancelled;
(b) the members of the co-operative being divided become members of the co-operatives constituted in terms of the division, in accordance with the agreement to divide; and
(c) the assets, rights, liabilities and obligations of the co-operative being divided become the assets, rights, liabilities and obligations of the co-operatives constituted by the division in accordance with the agreement to divide.

 

 


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