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-operativesFunctions of liquidators90. Powers of liquidator |
| (1) | A liquidator may subject to the provisions of the Act and these regulations do anything reasonably necessary for the effective performance of his or her duties, and may in particular— |
| (a) | with the approval of the registrar institute, defend or take any action or other legal proceeding of a civil nature in the name and on behalf of the co-operative; |
| (b) | with the approval of the registrar obtain legal advice on any question of law affecting the winding-up of the co-operative; |
| (c) | carry on any part of the business of the co-operative in so far as may be necessary for the beneficial winding-up thereof; |
| (d) | with the approval of the registrar agree to any reasonable offer of composition made to the co-operative by any debtor, and accept payment of any part of a debt due to the co-operative in settlement thereof; |
| (e) | with the approval of the registrar write off any debts; |
| (f) | submit to the determination of arbitrators any dispute concerning the co-operative of a claim by the co-operative; |
| (g) | terminate contracts to which the co-operative is a party. |
| (2) | A liquidator must not dispose of immovable property of a co-operative except with the approval of the registrar. |