—(1) Upon the application made in writing under their hands of one-fifth of the total number of members of a registered organisation, the Registrar may, by himself or by any Assistant Registrar or by any auditor whom the Registrar appoints in writing, investigate the affairs of the organisation, but the Registrar shall give not less than one month’s previous notice in writing to the organisation whose affairs are to be investigated.
(2) The application shall —
state that the funds of the organisation are insufficient to meet the existing claims thereon or that the rates of contribution fixed in the rules of the organisation are insufficient to cover the benefits assured;
set forth the grounds on which the insufficiency is alleged; and
request an investigation into the affairs of the organisation with a view to its dissolution.
(3) If upon investigation it appears that the funds of the organisation are insufficient to meet the existing claims thereon or that the rates of contribution fixed in the rules of the organisation are insufficient to cover the benefits assured to be given by the organisation, the Registrar may, if he considers it expedient to do so, order that the organisation shall be dissolved and its affairs wound up and shall direct in what manner the assets of the organisation shall be divided or appropriated:
Provided that the Registrar may suspend his order for such period as he may consider necessary to enable the organisation to make such alteration and adjustment of contributions and benefits as will in his judgment remove the necessity for the making of the order of dissolution.
(4) The Registrar proceeding under this section shall have all the powers and authorities enforceable by the same penalties as in the case of a dispute referred to him under this Act.
(5) Every order under this section, whether for dissolution or distribution of funds, shall be final and conclusive on the organisation in respect of which the order is made and on all members and subscribers of the organisation and on all persons having any claim on the funds of the organisation without appeal and shall be enforced in the same manner as a decision in a dispute under this Act.
(6) The expenses of every investigation and of publishing every notification of dissolution shall be paid out of the funds of the organisation before any other appropriation thereof is made.
(7) A notification of every order for dissolution shall, within 21 days after the order has been made, be published in the Gazette and unless, within 3 months from the date of the publication of the notification, a member or subscriber or person interested in or having any claim on the funds of the organisation commences proceedings to set aside the dissolution of the organisation consequent upon the order, and the dissolution is set aside accordingly, the organisation shall be dissolved from the date of the publication of the notification and the requisite signatures to the application to the Registrar shall be considered to have been duly obtained without proof of the signatures thereto.