Western Australian Numbered Acts

CO-OPERATIVES ACT 2009 (NO. 24 OF 2009) - SECT 388

388 .         Outstanding property of foreign co-operative

        (1)         This section applies if, after the winding-up of a foreign co-operative in this State, outstanding property of the body remains in this State.

        (2)         The estate and interest in the property, at law or in equity, of the body or its liquidator at that time, together with all claims, rights and remedies that the co-operative or its liquidator then had in respect of the property, vests by force of this section in —

            (a)         if the co-operative was registered, formed or incorporated in Australia or an external Territory, the person entitled to the property under the law of the place in which the co-operative was registered, formed or incorporated; or

            (b)         in any other case, the Registrar.

        (3)         If any claim, right or remedy of a liquidator may under this Division be made, exercised or availed of only with the approval or concurrence of the Supreme Court or some other person, the Registrar may, for the purposes of this section, make, exercise or avail himself or herself of the claim, right or remedy without the approval or concurrence.