Co-operative Societies Ordinance

40.
Effect of cancellation of registration
Where the registration of a society is cancelled by an order under
section 38
or
39
the society shall cease to exist as a corporate body from the date on which the order takes effect, hereinafter referred to as the date of
dissolution:
Provided that any privileges conferred on the society by or under
sections 14
,
15
,
16
and
17
shall be deemed to be vested in any liquidator appointed for that society by the Registrar.