Section 56 in Uttarakhand Self Reliant Co-Operatives Act, 2003
56. final accounts.
(1)The liquidator shall pay the costs of liquidation out of the property of the cooperative and shall pay or make adequate provision for all claims against the co-operative.(2)After paying or making adequate provision for all claims against the cooperative, the liquidator shall apply to the Registrar for approval of the final accounts and for permission to distribute in money or in kind the remaining property of the co-operative in accordance with the articles of association.(3)Where the Registrar approves the final accounts rendered by a liquidator in pursuance of sub-section (2), he/she shall:(a)issue directions with respect to the custody or disposal of the documents and records of the co-operative; and(b)Discharge the liquidator.(4)Where the Registrar discharges a liquidator in pursuance of sub-section (3), he/she shall dissolve the co-operative, issue a certificate of dissolution and strike off its name from the register of co-operatives.(5)The co-operative ceases to exist on the date shown in the certificate of dissolution.
