Category: Section 40B (ITA) – Conversion of co-operative to company

Section 40B

 

Section 40B inserted by section 17 of Act 96 of 1985, repealed by section 29 of Act 101 of 1990, inserted by section 31 of Act 113 of 1993 and substituted by section 31 of Act 8 of 2007.

Section 40B (ITA) – Conversion of co-operative to company

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40B.     Conversion of co–operative to company

 

Where any co–operative is incorporated as a company in accordance with the provisions of section 161A or 161C of the Co-operatives Act, 1981 (Act No. 91 of 1981) or section 62 of the Co-operatives Act, 2005 (Act No. 14 of 2005), such co–operative and such company shall for the purposes of this Act be deemed to be and to have been one and the same company.