Supersession of the Board.

1[23-A. Supersession of the Board.-- Notwithstanding anything contained in any law for the time being in force, the Board may be kept under suspension or superseded for a maximum period of six months.

1. (1) Supersession or suspension of Board and arranging for interim management of the society shall be done on the following grounds:-
   • (a) Of its persistent default; or
   • (b) Of negligence in the performance of its duties; or
   • (c) The board has committed any act prejudicial to the interests of the co-operative society or its members; or
   • (d) There is stalemate in the constitution or functions of the Board; or
   • (e) The State Co-operative Election Authority as provided, under this Act has failed to conduct elections in accordance with the provisions of the Act;
   • (f) Society failed to comply with the instructions issued by the Registrar under section 31 of this Act;
   • (g) The Society failed to comply with the instructions issued by the Registrar under section 34 of this Act.
2. (2) The Registrar may after giving the Board reasonable opportunity, by order, supersede or suspend the Board from a specified date and appoint the official Administrator(s) to manage the affairs of the society for a period not exceeding six months. In case of Co-operative Societies carrying on the business of banking, the provisions of the Banking Regulation Act, 1949 shall also apply.
3. (3) In case of a Co-operative Society, other than a multi-state Co-operative Society, carrying on the business of banking, the period of supersession/ suspension shall be for a maximum period of one year.]