Winding up of societies

("Winding up of societies")

1. (1) If the Registrar, after an inquiry has been held under section 51 or an inspection has been made under section 52 or on the receipt of an application made by not less than three-fourths of the members of a society, is of the opinion that the society ought to be wound up, he may, after giving the society an opportunity of making its representation, by order direct it to be wound up.
2. (2) The Registrar may of his own motion and after giving the society an opportunity of making its representation, make an order directing the winding up of a society—
   • (a) where it is a condition of the registration of the society that the society shall consist of a minimum number of members and the membership falls short of such minimum; or
   • (b) where the society has not commenced working within a reasonable time or has ceased to work; or
   • (c) where the society has ceased to comply with any condition as to registration or management in this Act or the rules or the bye-laws.
3. (3) The Registrar may cancel an order for the winding up of a society, at any time, in any case where, in his opinion, the society should not be wound up.
4. (4) A copy of an order under this section shall be communicated in the prescribed manner to the society and to the financing bank, if any, of which the society is a member.