Stamp Duties Act, 1968 (Act 77 of 1968)
R 385
Co-operatives Act, 2005 (Act No. 14 of 2005)RegulationsCo-operatives Administrative Regulations, 2016Chapter 2 : Winding Up and Judicial Management of Co-operativesPart A : Winding-Up of Co-operativesLiquidation, trading, distribution and contribution accounts and application of proceeds115. Payments in terms of liquidation or distribution account and recovery of contribution |
| (1) | The liquidator must as soon as may be practicable after— |
| (a) | a liquidation or distribution account was confirmed in terms of regulation 114 make all payments to be made in accordance therewith; |
| (b) | a contribution account was so confirmed, recover the contributions to be paid in accordance therewith. |
| (2) | Any payment in terms of a liquidation or distribution account must be made by way of a cheque payable to the person entitled to such payment or his order and drawn on an account contemplated in regulation 88(1)(a). |
| (3) | The liquidator must forthwith submit to the registrar proof of every payment made by him or her in terms of a liquidation or distribution account. |
