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).
(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.
- 1998, c. 1, s. 311
- 2001, c. 14, s. 211
- Date modified: