Power of Registrar to cancel registration of a co-operative society

(1) The Registrar may after considering the report of the liquidator made to him under sub-section (3) of section 59 order the registration of the co-operative society to be cancelled. (2) An order passed under sub-section (1) shall be communicated by registered post to the president of the society and to the financing institutions, if any, of which the society was a member.