Section 69D
of Co-Operative Societies Act 1993
Section 69D
The Commission shall complete any exercise of powers under subsection 69(1) or (2) within a period not exceeding two years unless such period is extended by the Minister.
(2)
The Minister may extend the period under subsection (1) for three further consecutive periods not exceeding one year each.
Co-operative Societies 69
(3)
Upon the expiry of such period referred to in subsection (1) or
(2)
, and if in the opinion of the Commission, the Commission has not completed the exercise of its powers under subsection 69(1) or (2), the
Commission may dissolve the co-operative society.
(4)
Where the Commission considers that any exercise of the powers referred to in subsection 69(1) or (2) has been completed, the
Commission shall submit any property, business, activities and affairs of the co-operative society to the newly elected Board and cause a notice to that effect specifying the date on which the exercise of such powers was completed to be published in the Gazette.