Amendment of Section

In the Andhra Pradesh to-operative Societies OF Scction HA, Aa 7 Act, 1964 (hereinafter referred to as the principal Act), in Section ISA,-

1. (1) for sub-sections (11,
2. (2) and 131, !he following subsections shall be nrbstituted, namely:- "(1) Notwithstanding anything in this Act or' the mles made thereunder or the byelaws of the society concerned, iE !he Registrar is of the opinion that it is , necessary to amalgamate or merge any society with , any other such society or to divide and restrict or transfer the area of operation of a society or to Iiqui-, date a society for any of'the folloiving purposes, I namely:- I I - .(a) for ensuring. economic viability of arid or all the societies concerned; or c
   • (b) for avoiding overlappius or conflict 04 , jurisdictions of societies in any area: or . A .i . . - : 3. -. - , .. I. -
     • • A , {c) for -securing- proper management of any 8 .spciety; or , .,
   • (d) in the interest of the co-oper2tiuz mow nlent in general and of ca-operative cridit str~icture in particular in thc State talcen as a wholz; or
   • (e) for. any ot11,er reason in the public Interest, he may identify the viable and - non-viablc societies whim may be retained or divided with consx~uc~~tial restriction of the area 01 operation or thc transfer of such arc3 or amal~amated ar liquidal-ed, as the case may be. and rnay by a notiiicntian to bc pub1is;lcd in the prcscribcd lrlnnner, specify tI~r: arc3 of otler;!tinll ; af er~cl~ such society or wcicties to be retained divided ! or nqaIgm=ited;yit!5 any nthcr socie!~ i~ldica:ei! in 1 tqi,-sgid.notlrotipn and invit: abjections or su,!kes- I :tio$.~from, .. -- .-. ~c mc-ktics or any -members, - depositorsi . b &e.!lirors, employees or other persons concerned with the &airs of each such society to be received within twc@y one days from the date.of publication of the notification. Exp1mation:-For the purpose of thi's Section,-
     • (i) the term 'Registrar' means the person on ivllo~n tile powers of die Registrar under this Section are codcrred under clause
   • (a) of section 2.
     • (ii) any society may coavcne the ~cneral body meeting within seven dzys from the date af publication of the notificiltion.
3. (2) The Registrar may, after having considered the mattcr in the light of any suggestions or objections ivhicl~ may be received by him within [he period speci- fied in sub-section
   • (i) and after making if uecessary, such modification in the proposal as he may deem fir, make an order and publish it in tb.c prescribed manner;
4. (3) On malting such an order,--
   • (i) tlle societies affected by the amalgamation,

dlall bc decmcd to i~rlvc been amalgarnaiecl with he

Society or socic'.ies with which each one is amalga- mated;

1. (ii) I11e re:istmtion of every amalgamated or clividcd sociery s11;1ll srnnd cancelIcd whereupon such socicty s11all ccasc to exist as a corporate body;
2. (iii) 111c arcn added to the area of. ,operation cf the socicty shall bc clccmed to have been -transfer- red to snch socicty to n!lich it is added:
3. (iv) llle nsscts of such amalgamated or divided society sh;~Il stand fral~sfcrred to and it3 liabilities shall dcvolr~c on, lhc ssoisty irith which it is amalga- aared aud all hmovnblz prope~ties located in the (%J.c~q 'noinber d .uch &dg&a& GI divided SC~:.'-~ mr! residing in the area -erred CFXJ Be d?emcd to haye Lm trqferred together with j& Iyns: shwe capitd, deposik to thd ' society with ~:2i& it @ amdgamated or to ~~hich the area is !ram- fcrrc d and he sW have the mmc ' rights, privileges

ard linbi'iities which he has had it^ the amalgamated

or divided wieq; -.

1. (vi) the Committee d the amalgamated or divided society shall st sd dissalved and thereupon, the Registrar shall nominate a Conmittee or appoint a person or. p,rsolls, wherever nemmy to manage the affairs of, such society for a period nof exceeding six months and armge for he conduct of elections before the expiry of the term; , (~2) it shall b mnpcket for he Registrar to alIct, by order, employees of such societies which . are an~algimatod or divided to my suciety or societies; and (1%) notwithstanding anq*g in this Ace or id any &her !xw, ~i in any coaGi!ct, award or any other i~strument for tbe time 'u~:ag in force, the pro- visions of the order of the Kcgisirar under subses- tirsns

1. (2) and
2. (3) shaU be brildiiig on all socictim and f~eir members, de-msitors, creditors, . employees and other gersons having zv,y ~jghts: assets or liabiities in dation to dl or %y of ti~c ~C~IEIX~ societies."; t2) ia subs~xgon (4), %e words "or poten-