3 (1) These Regulations do not apply to an association that, on the date on which the Minister declares the corporate powers of the association to be at an end or thereafter, is insolvent within the meaning of the Bankruptcy and Insolvency Act or is a bankrupt within the meaning of that Act and the affairs of such an association shall be wound up in accordance with the provisions of the Bankruptcy and Insolvency Act.
(2) Any proceedings taken under these Regulations to wind up the affairs of an association shall be stayed if the association is at any time found, in a proceeding under the Bankruptcy and Insolvency Act, to be insolvent within the meaning of that Act.
1 These Regulations may be cited as the Livestock Pedigree Associations Winding-up Regulations.
9 (1) If a court makes an order under subsection 5(4) or 6(3), the winding-up of the affairs of the association shall continue or be carried out, as the case may be, under the supervision of the court in accordance with these Regulations.
(4) The Minister or any member or creditor of an association or any interested person may, at any time during the winding-up of the affairs of the association under this section, apply to a court for an order that the winding-up be continued under the supervision of the court as provided in these Regulations, and on such application the court may so order and make any further order it thinks fit.
2 (1) In these Regulations,