Liquidator's final accounts and cancellation of registration

(2) After paying or making adequate provision for all claims against the Co-operative, the liquidator shall apply to the Registrar for approval of his final accounts and for permission to distribute in cash or in kind the amounts due to the members out of the remaining property of the Co-operative in accordance with the bye-laws. (3) Where the the Registrar approves the final accounts rendered by a liquidator in pursuance of sub-section (2), he shall,- (a) issue directions regarding the custody or disposal of the documents and records of the Co-operative; and (b) discharge the liquidator. (4) Where the Registrar discharges the liquidator under sub-section (3), he shall issue a certificate of winding up of the Co-operative and cancel the registration of such Co-operative. (5) The Co-operative ceases to exist as a corporate body from the date on which the certificate of registration is cancelled.