As from the date on which the entry is made in terms of section 67(3)(a) in the register of co-operatives—
| (b) | the company ceases to exist; |
| (c) | the constitution of the new co-operative substitutes the memorandum of incorporation; |
[Section 68(c) substituted by section 51(a) of Notice No. 558, GG 36729, dated 5 August 2013]
| (d) | the persons who at the date of conversion of the company were members of the company accordingly become members of the co-operative; |
| (e) | all assets, rights, liabilities and obligations of the company vest in the co-operative; and |
| (f) | the constitution binds the co-operative, its directors and each member to the same extent as if it had been signed by each member, subject to this Act. |
[Section 68(f) substituted by section 51(b) of Notice No. 558, GG 36729, dated 5 August 2013]
