Housing Development Agency Act, 2008
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-operativesProvisional winding up69. Effects of provisional winding-up order |
During the period for which a provisional winding -up order is in force in respect of any co-operative—
| (a) | the functions of the Board of directors of the co-operative will be suspended save in so far as the continuation thereof has been approved by the registrar or the provisional liquidator; |
| (b) | no judgement in any action against the co-operative for the recovery of an amount or the delivery of anything may be executed; |
| (c) | the issue, transfer or cancellation of shares in the co-operative will be void. |
