531. Any proceedings for dissolution or liquidation commenced before 1 January 1994 under sections 93.199 to 93.209, 93.269 to 93.273 and 391 to 405 of the Act respecting insurance (chapter A-32), sections 309 to 320 of the Savings and Credit Unions Act (chapter C-4.1), sections 28 and 28.1 of the Companies Act (chapter C-38), sections 181 to 185 of the Cooperatives Act (chapter C-67.2), or the Winding-up Act (chapter L-4) are continued under those provisions as amended by this Act, if the legal person registers in accordance with this Act. If not, the proceedings are continued under the provisions of those Acts as they existed before 31 December 1993.
Sections 93.199 to 93.209, 93.269 to 93.273 and 391 to 405 of the Act respecting insurance, sections 309 to 320 of the Savings and Credit Unions Act, sections 28 and 28.1 of the Companies Act, sections 181 to 185 of the Cooperatives Act and sections 9, 17, 18, 19 and 32 of the Winding-up Act, as they read on 31 December 1993, continue to apply to the legal persons contemplated in section 520 until 1 January 1995.