Section 54Part 7 — Dissolution of Registered Society other than Credit Union
Power of Registrar to control liquidation
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A liquidator shall exercise that person’s powers subject to the control and revision of the Registrar, who may —
rescind or vary any order made by a liquidator and make whatever new order is required;
remove a liquidator from office;
call for all books, documents and assets of the society;
by order in writing, limit the powers of a liquidator under section 53;
require accounts to be rendered to the Registrar by the liquidator;
procure the auditing of the accounts of the liquidator and authorise the distribution of the assets of the society;
make an order for the remuneration of the liquidator; or
refer any subject of dispute between a liquidator and any third party to arbitration if that party has consented in writing to be bound by the decision of the arbitrator.
Cross References
- Section 53 of Cooperative Societies Law
Reference to section 53 in paragraph (d)