Amendment of Section 10

4. In Section 10 of the Principal Act,--

1. (i) for sub-section (1), the following sub-section shall be substituted, namely:-- "(1) Every co-operative shall have the same registered address which has been mentioned in its bye-laws and the co-operative shall carry on day to day business at its registered address mentioned in the bye-laws and shall maintain records pertaining to the co-operative at its registered address.";
2. (ii) for sub-section (3), the following sub-section shall be substituted, namely:-- "(3) The board may, by resolution, change the address of its head office and it shall give notice of such change by registered post to its members, creditors, the Registrar and to any principal co-operative to which it is affiliated, within fifteen days of the passing of such resolution.";
3. (iii) after sub-section (4), the following sub-section shall be inserted, namely:-- "(4-A) If the co-operative does not-
4. (i) communicate the changed address to the Registrar; or
5. (ii) carry on the business at its registered address; or
6. (iii) maintain the records at its registered address, the Registrar may impose penalty not exceeding ten thousand rupees on the Officer responsible after giving a reasonable opportunity of being heard.".