Cancellation of registration

(1) The Registrar may, by order in writing, cancel the registration of a credit union registered under this Act if satisfied that– (a) it is proved that the registration was obtained by fraud or mistake; (b) the credit union or any officer or a director or a member of the Supervisory Committee, Credit Committee or any other committee has failed or refused to comply with any order or request made by the Registrar under this Act; (c) the number of members of the credit union has been reduced below the minimum number required by section 8(1)(b) for registration of (d) if membership of the credit union in the Deposit Insurance Fund is terminated; or (e) if the Deposit Insurance Corporation has been provided with false, misleading or inaccurate information by or on behalf of the credit union in connection with deposit insurance under the Deposit Insurance Act. CAP. 251:01. (2) An order under sub-section (1), shall take effect from the date of the order. (3) Where the registration of a credit union is cancelled by order under this section or any other section, the credit union shall, except for the purpose of winding up, cease to exist as a body corporate from the date on which the order takes effect. Credit Unions Act 25