De-registration of societies

Corporate1960195 sections

Statutory text

(1) If the Registrar is satisfied that any society is registered on misrepresentation made by applicants, or where the work of the society is completed or the purposes for which the society has been registered are not served, he may, after giving an opportunity of being heard to the committee, de-register the society. (2) When a society is de-registered under the provisions of sub-section (1), the Registrar may, notwithstanding anything contained in this Act, make such incidental and consequential order including appointment of official assignee as the circumstances may require. (3) Subject to the rules made under this Act, the official assignee shall realize the assets and liquidate the liabilities within a period of one year from the date he takes over the charge of property, assets, books, records and other documents. The period aforesaid may, at the discretion of the Registrar, be extended from time to time, so however, that the total period does not exceed three years in the aggregate. (4) The official assignee shall be paid such remuneration and allowances as may be prescribed. (5) The powers of the Registrar under sub-section (1) and (2) shall not be exercised by any officer below the rank of a Joint Registrar of Co-operative Societies.

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