Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)Part III : Association of Collective Investment Schemes34. Voluntary dissolution of association |
| (1) | An association may be dissolved voluntarily in the circumstances and in the manner specified for that purpose in its rules. |
| (2) | Subject to subsection (1), the provisions of the Companies Act relating to the voluntary winding-up of companies apply with the necessary changes to the voluntary dissolution of an association. |
[Subsection 2 amended by section 217(a) of Act No. 45 of 2013]
| (3) | The liquidator of an association must— |
| (a) | until the association is dissolved, send to the registrar the accounting records determined by the registrar; and |
| (b) | forward to the registrar a copy of every notice or account which, in terms of the Companies Act, he or she is required to furnish to the Master of the High Court. |
[Subsection (3)(b) amended by section 217(b) of Act No. 45 of 2013]
| (4) | When the affairs of an association have been completely wound up, the Master of the High Court must send a certificate to that effect to the registrar, who must cancel the association’s licence, and thereupon the association is dissolved. |