| (1) | A company that intends to conduct its affairs according to co-operative principles and that passed a resolution at a general meeting that authorises the conversion of that company into a co-operative of a particular kind and form, may apply to the registrar on the prescribed form to be converted. |
| (2) | An application referred to in subsection (1) must be accompanied by— |
| (a) | a sworn statement by a person who acted as the chairperson of the general meeting referred to in subsection (1)— |
| (i) | that the meeting has passed a resolution authorising the conversion of the company into a co-operative of the required kind and form; |
| (ii) | that the meeting was specially convened to consider the resolution; and |
| (iii) | that the chairperson has satisfied himself or herself that proper notice of the meeting was given to the members of the company; |
| (b) | a copy of the resolution and an explanation of the reasons for the proposed conversion; |
| (c) | proof of the company’s registration under any law as a company; |
| (d) | two certified copies of the company’s memorandum of incorporation; |
[Section 66(2)(d) substituted by section 49(a) of Notice No. 558, GG 36729, dated 5 August 2013]
| (e) | two copies of a new constitution in terms of this Act that ensures that the newly converted co-operative fulfils all the provisions of this Act; |
[Section 66(2)(e) substituted by section 49(a) of Notice No. 558, GG 36729, dated 5 August 2013]
| (f) | a certified copy of the company’s latest audited annual financial statements; |
| (g) | a schedule containing the full names and addresses of the members of the company, the number of shares and class of shares held by each one of them in the company, and, if application is made to convert the company into a co-operative, also the occupations of the members; |
| (h) | a schedule containing the full names and addresses of the directors of the company; |
| (i) | a schedule stating the particulars and extent of the company’s interest in any other company; and |
| (j) | the prescribed application fees. |
| (3) | A company intending to convert into a co-operative must convert within 90 days from the date on which the application was submitted to the registrar. |
[Section 66(3) substituted by section 49(b) of Notice No. 558, GG 36729, dated 5 August 2013]
