Amendment of bye-laws of a co-operative society

(1) A co-operative society may, subject to the provisions of this Act and the rules, amend its bye-laws in the manner prescribed : Provided that no such amendment shall be valid and operative unless it has been registered under this Act. (2) The proposal for an amendment of the bye-laws shall be forwarded to the Registrar and if the Registrar is satisfied that the proposed amendment- (i) is not contrary to the objects specified in section 4 of the Act; and (ii) is not contrary to the other provisions of the Act or the rules, he may register the amendment. (3) Where the Registrar refuses to register an amendment of the bye-laws of a co-operative society, he shall communicate the order of refusal, together with the reasons thereof, the society.