A registered Society may be dissolved under the Companies Acts. \u00a0The consent of three quarters of the members testified by instrument of dissolution is required. There is provision for solvent and insolvent winding up depending on the financial position of the Society.\u00a0 In the case of an insolvent winding up the winding up may be initiated by the order of court or may proceed as a creditor\u2019s voluntary liquidation.<\/p>\n
That is provision for winding up through an instrument of dissolution.\u00a0 This is an alternative to a winding up under the Companies Act.\u00a0 The instrument of dissolution must set out assets and liabilities.\u00a0 It must set out the nature of parties\u2019 interest and claims of creditors.\u00a0 It must \u00a0contain a list of members who have not signed it.\u00a0 It must be filed with the registrar.<\/p>\n
The registrar may register the instrument of dissolution once he has received the annual return covering the relevant period.\u00a0 The registration of the instrument is binding on all members.\u00a0 A member who has not voted in favour of it, \u00a0within three months of the date of advertisement of the dissolution, may take court proceedings to set aside the dissolution.<\/p>\n
In the absence of proceedings, the dissolution takes place from the date of advertising of dissolution.\u00a0 The secretary or the assistant must certify that all assets have been duly conveyed and transferred to the person entitled.<\/p>\n\n
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Meetings The rules of a registered Industrial and Provident Society provide for the manner of holding a General Meeting.\u00a0 Unlike companies legislation, there is no specific requirement for meetings to be held at a particular interval.\u00a0 However, reporting and accounting to members implies an obligation to hold a meeting.\u00a0 This should be annual in accordance […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[373],"tags":[],"_links":{"self":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/27548"}],"collection":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/comments?post=27548"}],"version-history":[{"count":5,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/27548\/revisions"}],"predecessor-version":[{"id":30543,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/27548\/revisions\/30543"}],"wp:attachment":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/media?parent=27548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/categories?post=27548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/tags?post=27548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}