(1) Where the FCA receives an instrument of dissolution of a society under section 121, it must ensure that notice of the dissolution is advertised in -

(a) the Gazette, and

(b) a newspaper circulating in or about the locality in which the society's registered office is situated.

(2) Subject to subsection (3), the society is dissolved from -

(a) the date of the advertisement, or

(b) if later, the date the certificate under section 126 is lodged with the FCA;

and the requisite consents to, or approval of, the instrument of dissolution are treated as duly obtained without proof of the signatures to it or of the special resolution (as the case may be).

(3) Subsection (2) does not apply if -

(a) within the period of 3 months from the date of the Gazette in which the advertisement appears, a member of the society or a person interested in or having a claim on its funds commences proceedings in the appropriate court to set aside the dissolution of the society, and

(b) the dissolution is accordingly set aside.