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Co-Operative Societies Act 2008

166. Cessation of business

From the date of the commencement of its liquidation—

a.      a society continues in existence, but shall cease to carry on its business except insofar as may be required, in the opinion of the liquidator, for an orderly liquidation; and

b.     any transfer of shares, other than a transfer made to or with the approval of the liquidator, and any alteration in the status of the members made after the commencement of the liquidation is void.

Cooperative Societies Act, 2008 Back

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