Industrial and Provident Societies (Amendment) Act, 1978

Winding up of societies.

19.—(1) Subject to this section, a society may be wound up only in accordance with Part VI of the Act of 1963, and, accordingly, that Part of that Act shall, subject to any necessary modifications, apply as if the society were a company.

(2) For the purposes of the application of section 213 of the Act of 1963, a society may be wound up under this section by the Court if—

(a) the society has by special resolution resolved that the society be wound up by the Court;

(b) the society is unable to pay its debts;

(c) the society has, after notice from the Registrar, contravened a provision of the Industrial and Provident Societies Acts, 1893 to 1978, or a direction or permission given by the Registrar under those Acts;

(d) the Court is of opinion that it is just and equitable that the society should be wound up.

(3) (a) Notwithstanding anything in section 215 (as applied by this section) of the Act of 1963, an application under that section for the winding up of a society may be made by the Registrar.

(b) Section 215 (d) of the Act of 1963 shall not apply to the winding up of a society.

(4) The winding up of a society shall not bar the right of the Registrar to apply to have it wound up by the Court.

(5) A society may not be dissolved by an instrument of dissolution.