s.49Dissolution
49
Section 49Part 7 — Dissolution of Registered Society other than Credit Union

Dissolution

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If the Registrar, after holding an inquiry or making an inspection under section 47 or on receipt of an application made by seventy-five per cent of the members of a registered society, is of the opinion that the society ought to be dissolved, the Registrar may, by order, cancel the registration of the society, and shall forthwith inform the Cabinet who shall publish an Official Gazette Notice thereof in the Islands.
Any member of a registered society may, within two months from the date of an order under subsection (1), appeal from such order to the tribunal appointed by regulations under this Law. The decision of the tribunal shall be final and shall not be called in question in any Court.
Where no appeal is presented within two months from the making of an order cancelling the registration of a society, the order shall take effect on the expiry of that period. Where an appeal is presented within two months, the order shall not take effect until it is confirmed by the tribunal appointed by the regulations.
Where the Registrar cancels the registration of a society under subsection (1), the Registrar may make such order as the Registrar may think fit for the custody of the books and documents and the protection of the assets of the society until the order cancelling registration takes effect.
No registered society shall be wound up save by an order of the Registrar.

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