Closing a society

Liquidation and dissolution

Section 15 of the Industrial and Provident Societies Act 1908 ('the Act')

The following provisions apply to an industrial and provident society:

It may be put into liquidation by:

• the appointment by the High Court of a named person or the Official Assignee as liquidator; or
• the appointment of a named person as liquidator by resolution of the members passed as for a resolution under section 241(2)(a) of the Companies Act 1993.

In either instance, the procedures of the Companies Act 1993 then apply to the liquidation.

It may be dissolved by:

• an instrument of dissolution signed by three-fourths of its members accompanied by a statutory declaration shall be made by three members and the secretary that the provisions of the Act have been complied with.

The Registrar of Industrial and Provident Societies then gives public notice in the Gazette and daily newspaper circulating in the area where the society has its registered office to the effect that if no objection is made within three months, the society will be dissolved.  Objection is by way of application to the District Court served on the Registrar.