Change of name of co-operative society

(1) A co-operative society may, by amending its bye-laws, change its name, (2) Where a co-operative society changes its name, the Registrar shall enter the new name on the register of co-operative societies in place of the former name and shall amend the certificate of registration accordingly. (3) The change of name of a co-operative society shall not affect any rights or obligations of the society or of any of its members, past members, officers, past officers, of the heirs of any of them, if deceased, or render defective any legal proceeding by or against the co-operative society and any legal proceedings which might have been continued or commenced by or against the society by its former name, may be continued or commenced by its new name.