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• 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.

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• (3) On an application under subsection 5(4) or 6(1), the court may, if it is satisfied that the association is able to pay or adequately provide for the payment or discharge of all its obligations, make any order it thinks fit including, without limiting the generality of the foregoing

  • (a) an order that the affairs of the association be wound up or that the winding-up of the affairs of the association be continued under the supervision of the court, as the case may be;

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  • (f) an order, at any stage of the proceedings, restraining the directors and officers of the association from,

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    • (ii) collecting or receiving any debt or other property of the association, and from paying out or transferring any property of the association, except as permitted by the court;

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  • (k) after notice has been given to all interested parties, an order relieving the liquidator from any omission or default on such terms as the court thinks fit and confirming any act of the liquidator;

  • (l) an order directing meetings of the members of the association to be called, held and conducted in such manner as the court thinks fit for the purpose of ascertaining their wishes, and appointing a person to act as chairman of any such meeting and to report the result of it to the court;

  • (m) an order requiring any member, director, officer, employee or agent of the association to pay, deliver, convey, surrender or transfer forthwith, or within such time as the court directs, to the liquidator all documents, records, moneys and property that are in his hands and to which the association is entitled;

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  • (o) subject to section 14, an order approving any proposed distribution of the association’s remaining property, in money or in kind, in accordance with section 15 or an order directing the distribution of the association’s remaining property in such other manner as the court thinks fit;

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  • (q) on the application of any director, officer member, security holder, creditor or the liquidator,

    • (i) an order staying the winding-up on such terms and conditions as the court thinks fit,

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• (2) Within one year after his appointment, and after paying or making adequate provision for all claims against the association, the liquidator shall apply to the court

  • (a) for approval of his final accounts and for an order permitting him to distribute in money or in kind the remaining property of the association in accordance with section 15 or in such other manner as the court may direct; or

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• (4) A liquidator shall give not less than ten days notice of his intention to make an application under subsection (2) to the Minister, each inspector appointed under subsection 9(3), each member of the association and any person who provided a security or fidelity bond for the winding-up of the affairs of the association, and he shall publish the notice in a newspaper published or distributed in the place where the association has its head office or as otherwise directed by the court.

• (5) If the court approves the final accounts rendered by a liquidator, the court shall make an order

  • (a) directing the distribution of the property of the association remaining after paying or adequately providing for the payment or discharge of all its obligations in accordance with section 15 or in such other manner as the court thinks fit;

12 A liquidator shall

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• (i) deliver to the court and to the Minister, at least once in every twelve month period after his appointment or more often as the court may require, financial statements of the association in such form as the liquidator may think proper or as the court may require; and

• 10 (1) When making an order for the winding-up of the affairs of an association or the supervision of the winding-up of the affairs of an association, as the case may be, or at any time thereafter, the court may appoint any person, including a director, an officer or a member of the association or any other association, as liquidator of the association.

• (2) Where an order for the winding-up of the affairs of an association or the supervision of the winding-up of the affairs of an association, as the case may be, has been made and the office of liquidator is or becomes vacant, the property of the association is under the control of the court until the office of liquidator is filled.

16 A person who has been granted custody of the documents and records of an association remains liable to produce such documents and records for six years following the date of the termination of the winding-up of the affairs of the association or until the expiry of such other shorter period as may be ordered under subsection 14(5).