Before the
incorporation of an incorporated association may be cancelled under this
Division —
(a) the
management committee of the association must examine the affairs of the
association and by resolution declare that in its opinion the association is
able to pay or meet its debts and liabilities; and
(b) the
association must then pass special resolutions —
(i)
that its incorporation be cancelled under this Division;
and
(ii)
approving a distribution plan that complies with
sections 133 and 134;
and
(c) the
distribution plan must be approved by the Commissioner.