Additional grounds for Cessation of membership of co-operative housing society.

Additional grounds for Cessation of membership of co-operative housing society. Subject to the provision of this Act, in the case of a cooperative housing society, a person shall also cease to be a member of a cooperative society -

(a) on disposing of the property through instrument of power of attorney and agreement for sale subject to the interest of the mortgagee if there is any loan on the property; or

(b) if he:-

(i) before becoming a member of a cooperative housing society, already owns, either in his own name or in the name of his spouse or any of his dependent children;

(ii) after becoming a member in a cooperative housing society, during the currency of such membership, till allotment of any plot or flat to him, as the case may be, acquires either in his own name or in the name of his spouse or any of his dependent children; a residential property exceeding 66.72 sq. meters in area, in any of the approved or unapproved colonies or other localities in Delhi either on lease-hold basis or free-hold basis or on power of attorney or on agreement for sale basis :

Provided that no person having residential property under this section in the village abadi area in Delhi shall be disqualified :

Provided further that no such disqualification shall be applicable in the case of a person who has acquired property on power of attorney or through agreement for sale and on conversion of the property from leasehold to freehold on execution of conveyance deed for it, if such person applies for the membership of the cooperative housing society concerned :

Provided also that no member shall earn disqualification in clause (b) above, if the residential property devolves on him by way of inheritance.