logos

Winding up a co-operative

Winding up is the process of dissolving a co-operative and making sure assets are lawfully distributed.

A co-operative can be wound up:

  1. voluntarily by members or creditors
  2. by the Supreme Court
  3. on a certificate of the Registrar of Co-operatives
  4. deregistration (if assets are less than $1000 and all members agree)

Lodge an application

After you lodge an application

You will either:

  • receive a letter approving the winding-up of the co-operative or
  • be advised you are not allowed to wind-up the co-operative or the matter is under investigation.

After the application is approved

Once the application is approved, you must arrange the special resolution by special postal ballot according to your co-operative's rules. Notify members of a special resolution to wind-up the co-operative, and appoint a liquidator.

As part of the special postal ballot, you must also prepare a Disclosure Statement for members. Download an Example Disclosure Statement for voluntary wind-up of a co-operative (DOCX, 26.0 KB).

Time frames

You must give to each member a notice of the resolution not less than 21 days before the special resolution being passed.

Within 28 days of the special resolution being passed, you must send Consumer Building and Occupational Services the signed form and fee for lodging a special resolution.

After the final meeting

After you're co-operative's final meeting, send Consumer, Building and Occupational Services the:

  • minutes of the final meeting and
  • final accounts.
Updated: 15 Sep 2020