54. The Minister of Financial Institutions and Cooperatives may by order terminate the corporate existence of a cooperative syndicate or federation of cooperative syndicates, upon being satisfied(a) of the reduction of the number of its members to fewer than twelve in the case of a cooperative syndicate, or to fewer than two in the case of a federation; or
(b) of failure during three consecutive years to hold an annual general meeting of its members; or
(c) of failure for more than three years to file in the Ministère des Institutions financières et Coopératives the report provided for in section 35;
(d) of failure to continue as a cooperative governed by the Cooperatives Act (chapter C-67.2), as a company governed by Part IA of the Companies Act (chapter C-38) or as a savings and credit union governed by the Savings and Credit Unions Act (chapter C-4) within three years from 21 December 1983.