Co-operatives Act, 2005 (Act No. 14 of 2005)

Regulations

Co-operatives Administrative Regulations, 2016

Schedules

Schedule 2 : Remuneration of liquidators
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Schedule 2

Remuneration of liquidators

 

Item Taxed

Scale of Taxation

1.

The gross proceeds of movable property (other than shares and similar securities) sold, and the gross amount collected under promissory notes or book debts or as rent interest, contributions or other income

10%

2.

The gross proceeds of immovable property, shares and similar securities sold, mortgage bonds recovered, and the balance recovered in respect of immovable property sold prior to liquidation

3%

3.

The—

(a)money found in the estate;
(b)gross proceeds of cheques and postal orders payable to the co-operative and found in the estate; and
(c)gross proceeds of amounts standing to the credit standing to the credit of the co- operative in current, savings and other accounts and fixed deposits and other deposits at banking and financial institutions.

1%

4.

Sales by the liquidator in carrying on the business of the co-operative, or an art thereof, in terms of regulation 19.

6%

5.

The amount distributed in terms of a composition, excluding any amount on which remuneration is payable under any other item of this tariff

2%

6.

The value at which movable property in respect of which a creditor has a preferred right, has been taken over by such creditor

5%