Canada Cooperatives Act

Marginal note:Dissolution by Director

• 311 (1) Subject to subsections (2) and (3), the Director may dissolve a cooperative by issuing a certificate of dissolution under this section if the cooperative

  • (a) has not commenced business within three years after the date shown in its certificate of incorporation;

  • (b) has not carried on its business for three consecutive years;

  • (c) is in default for a period of one year in sending the Director any fee, notice or document required by this Act; or

  • (d) does not have any directors or is in the situation described in subsection 85(6).

• Marginal note:Publication

  (2) The Director may not dissolve a cooperative under this section until

  • (a) one hundred and twenty days have elapsed since notice of intent to dissolve has been given to the cooperative and to each of its directors; and

  • (b) notice of intent to dissolve the cooperative has been published in a publication generally available to the public.

• Marginal note:Certificate of dissolution

  (3) Unless cause to the contrary has been shown or an order has been made by a court under section 315, the Director may, after the end of the one hundred and twenty days referred to in subsection (2), issue a certificate of dissolution.

• Marginal note:Exception — non-payment of incorporation fee

  (3.1) Despite anything in this section, the Director may dissolve a cooperative by issuing a certificate of dissolution if the fee for the issuance of a certificate of incorporation is not paid.

• Marginal note:Effect of certificate

  (4) The cooperative ceases to exist on the date shown in the certificate of dissolution.