(1) A co-operative may
by special resolution change its name to a name approved by the Registrar.
(2) A change of name
must be advertised as prescribed by the regulations.
(3) A change of name
does not take effect until —
(a) the
Registrar has noted the change on the certificate of registration of the
co-operative; or
(b) the
certificate of registration is surrendered to the Registrar and a replacement
certificate of registration is issued in the new name.
(4) A change of name
by a co-operative does not affect —
(a) the
identity of the co-operative; or
(b) the
exercise of a right, or the enforcement of an obligation, by or against the
co-operative or a person; or
(c) the
continuation of legal proceedings by or against the co-operative.
(5) Legal proceedings
that might have been continued or started by or against the co-operative in
its former name may be continued or started by or against the co-operative in
its new name.
(6) The Registrar may
refuse to approve a change of name if the Registrar thinks the new name is
unsuitable.
(7) The Registrar may
direct a co-operative to change its name if the Registrar considers the name
is likely to be confused with the name of a corporation or a registered
business name.
(8) A co-operative
that is given a direction under subsection (7) must comply with the direction.
Penalty for this subsection: a fine of $500.
(9) Despite The
Criminal Code section 23B(2), it is immaterial for the purposes of subsection
(8) that any event occurred by accident.
[Section 241 amended: No. 7 of 2016 s. 82.]