Queensland Consolidated Acts Queensland Consolidated Acts(1) A cooperative may be wound-up voluntarily only—
(a) by a creditors' voluntary winding-up; or
(b) if a special resolution is passed by a special postal ballot in favour of voluntary winding-up.
(2) A regulation may exempt a cooperative from compliance with a provision of this section or section 194.
(3) When a special postal ballot is held, the members may, by means of the same ballot, by simple majority—
(a) appoint 1 or more liquidators to wind-up the affairs and distribute the assets of the cooperative; and
(b) fix the remuneration to be paid to the liquidator.