# Co-operative and Community Benefit Societies Act (Northern Ireland) 1969, Section 66: Liability of members in winding-up.

Extent: N.I.

Where a registered society is wound up by virtue of section 64(1)(a), the liability of a present or past member of the society to contribute for payment of the debts and liabilities of the society, the expenses of winding-up, and the adjustment of the rights of contributories amongst themselves, shall be qualified as follows, that is to say—
(a) no person who ceased to be a member not less than one year before the beginning of the winding-up shall be liable to contribute;
(b) no person shall be liable to contribute in respect of any debt or liability contracted after he ceased to be a member;
(c) no person who is not a member shall be liable to contribute unless it appears to the court that the contributions of the existing members are insufficient to satisfy the just demands on the society;
(d) no contribution shall be required from any person exceeding the amount, if any, unpaid on the shares in respect of which he is liable as a past or present member;
(e) in the case of a withdrawable share which has been withdrawn, a person shall be taken to have ceased to be a member in respect of that share as from the date of the notice or application for withdrawal.

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Source: https://www.legislation.gov.uk/apni/1969/24/section/66 (the official version)
Page: https://openlegislation.uk/co-operative-and-community-benefit-societies-act-northern-ireland-1969/section-66
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.