Canada Cooperatives Act

Marginal note:Grounds for dissolution

• 312 (1) Any interested person may apply to a court for an order dissolving a cooperative if the cooperative has

  • (a) failed for two or more consecutive years to comply with the requirements of this Act with respect to the holding of annual meetings;

  • (b) contravened section 18, subsection 27(2) or section 31, 247 or 249; or

  • (c) procured any certificate under this Act by misrepresentation.

• Marginal note:Notice to director

  (2) An applicant under this section must give the Director notice of the application.

• Marginal note:Dissolution order

  (3) On an application under this section, the court may order that the cooperative be dissolved or that it be liquidated and dissolved under the supervision of the court, and the court may make any other order it thinks fit.

• Marginal note:Certificate

  (4) On receipt of an order under this section or section 313, the Director must

  • (a) if the order is to dissolve the cooperative, issue a certificate of dissolution in the form that the Director fixes; or

  • (b) if the order is to liquidate and dissolve the cooperative under the supervision of the court, issue a certificate of intent to dissolve in the form that the Director fixes and publish notice of the order in a publication generally available to the public.

• Marginal note:Effect of certificate

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