Co-operatives Act, 2005 (Act No. 14 of 2005)RegulationsCo-operatives Administrative Regulations, 2016Chapter 2 : Winding Up and Judicial Management of Co-operativesPart A : Winding-Up of Co-operativesLiquidation, trading, distribution and contribution accounts and application of proceeds117. Recovery of contribution |
| (1) | If any contributory liable to pay contribution in terms of a contribution account fails to pay the amount of such contribution to the liquidator within 30 days after a letter of demand in which particulars of such contribution are set out was sent to him or her by registered post to his or her last-known residential or business address, the magistrate of the district in which the registered office of the co-operative is situated must upon written request by the liquidator issue a writ of execution against the property of such contributory. |
| (2) | Any such writ must be executed against the movable property of such contributory, and if sufficient movable property is not found to satisfy the writ, then against his or her immovable property. |
| (3) | A writ of execution issued under sub-regulation (1) must be deemed to have been issued pursuant to a judgement of a magistrate's court. |