Power of Registrar to order Liquidation of Societies and amalgamation of several Societies

44 AQ. Power of Registrar to order Liquidation of Societies and amalgamation of several Societies. –

1. (1) Notwithstanding anything to the contrary contained in this Act where with the Registrar is satisfied that, in the interest of the Cooperative Movement of for the purpose of securing proper management of Cooperative Societies or for the reason that the society has not been working as a viable unit or has incurred bad debts or has remained inactive, it is necessary to liquidate a society he may, by an order published in the official Gazette, direct for the liquidation of the society and shall appoint person or persons for carrying out the functions of the liquidator as laid down in section 44.
2. (2) Where in the opinion of the Registrar, or an officer authorized by the Registrar to act on his behalf (who shall not be below the rank of the District Cooperative Officer), amalgamation of two or more primary agricultural societies is necessary in order to improve the working of such society or for increasing their strength or usefulness, by may by an order, notwithstanding anything to the contrary contained in this Act, direct the amalgamation of two or more such societies, within such time as may be specified therein, into one single society and register the same as a mew society.
3. (3) The societies which are amalgamated under sub-section
4. (2) shall be deemed to have been dissolved and shall cease to exist and the membership thereof shall stand transferred to, and all the assets and liabilities thereof shall vest, in the new society formed by amalgamation of two or more societies: Provided that State Government may from time to time, declare a moratorium on the liabilities of the societies so amalgamated.
5. (4) Upon the amalgamation of societies and establishment of a new society, the Registrar shall, for purposes of managing the affairs of the new society, depute an officer of the State Government subordinate to him, till such time as a new managing committee is constituted and the officer so deputed shall exercise such Powers and perform such functions as may be prescribed.
6. (5) The Registrar may by an order in writing and published in the official Gazette determine the local limits of the new society established after the amalgamation of several societies.
7. (6) Every family residing within the local limits of the new society determined under sub-section
8. (5) shall be represented by at least one adult member of the family who shall be a normal or associate member of the society and shall be entitled to a right of voting if he pays a membership fee of Rs. 1 and may become a full-fledged member of the society if he purchases at least one share of the society and he shall be entitled to receive loan there from and shall also be eligible to hold and elective post of the society.