Cancellation of registration certificate of co-operative societies in certain cases

(1) When the whole of the assets and liabilities of a co-operative society are transferred to another society in accordance with the provisions of section 14, the registration of the first mentioned society shall stand cancelled and that society shall be deemed to have been dissolved and shall cease to exist as a corporate body. (2) When two or more co-operative societies are amalgamated into a new co-operative society in accordance with the provisions of section 14, the registration of each of the amalgamating societies shall stand cancelled on the registration of the new society and each such society shall be deemed to have