Amendment status not verified — confirm the current text below against the official source.
Disposal of surplus Assets: - After discharging the liabilities of the co- operative society and repayment of share capital, the liquidator may, utilize the surplus assets, if any, for one or more of the following purposes namely: (a) Deposit the amount in a co-operative bank until a new co-operative society with similar area of operation and objects are registered when it shall be credited to the reserve fund of the new co-operative society. (b) any purpose connected with development of co-operative movement, subject to the approval of Registrar; (c) an object of public utility selected with due regard to the wishes of the members and approved by the Registrar.