ADVOKS GLOBAL · KENYA
Co-operative Societies Act
68. Powers of Commissioner during liquidation
Edition: 2023-12-11 · In force
68. Powers of Commissioner during liquidation
(1)The liquidator shall exercise his powers subject to the guidance and control of the Commissioner and to any limitations imposed by the Commissioner, and the Commissioner may—(a)rescind or vary any order made by the liquidator and make any new order he thinks proper;(b)remove the liquidator from office and appoint a new liquidator in his place;(c)call for all books, documents and assets of the society;(d)by order in writing, in any particular case, limit the powers of the liquidator conferred by section 66;(e)at his discretion, require accounts to be rendered to the Commissioner by the liquidator;(f)procure the auditing of the liquidator's accounts and authorize the distribution of the assets of the society;(g)make an order for the remuneration of the liquidator;(h)grant a discharge to the liquidator on application by him after completion of the liquidation proceedings;(i)require any member or past member of the society and any trustee, banker, receiver, agent or officer of the society to pay, deliver, convey, surrender or transfer forthwith, or within such time as he shall direct, to the liquidator, any money, property, books or papers in his hands to which the society appears to be entitled;(j)appoint a special manager for the management of the business of the society and determine his remuneration and what, if any, security he shall give for the proper performance of his duties;(k)refer any dispute between a liquidator and any third party to the Tribunal if that party consents in writing to be bound by the decision of the Tribunal;(l)require the indemnification of the liquidator.(2)The decision of the Tribunal on any matter referred to it under subsection (1) (k) shall be binding upon the parties and shall be exercisable in the like manner as an order made by the Commissioner under subsection (1) (a).(3)Where any matter is referred to the Tribunal under subsection (1) (k) the cost of the reference and award shall be in the discretion of the Tribunal, who may direct to and by whom, and in what manner, those costs or any part thereof shall be paid, and may tax or settle the amount of costs to be so paid by any party thereof.