Amendment status not verified — confirm the current text below against the official source.
Where a proposal for a compromise or arrangement - a. between a society and its creditors, or b. between a society and its members, is approved at a special general meeting called for the purpose, the Registrar may, on the application of the society, or of any member or of any creditor of the society of in the case of society which is being wound up, of the Liquidator, order reconstruction in the prescribed manner, of the society. 20.(1) Any two or more societies may, with the prior approval of the Registrar, by resolution passed by three-fourth majority of the members present and voting at a general meeting of each such society, enter into partnership for carrying out any specific business or businesses provided that its members has had clear thirty days written notice of the resolution, and the date of the meeting. (2) Nothing in the Indian partnership Act, 1932 shall apply to such partnership. 21.The Registrar shall make an order cancelling the registration or a society if it transfers the whole of its assets and liabilities to another society or amalgamates with another society, or divides itself into two or more societies or if its affairs are would up, or it has not commenced business within a reasonable time of its registration, or has ceased to function of if he is satisfied, after making such inquiry as he thinks fit, that the society no longer has genuinely as its objects one or more of the objects specified in section 4, and its registration ought, in the interests of the general public, be cancelled. The society shall, from the date of such order of cancellation, be deemed to be dissolved, and shall cease to exist as a corporate body. CHAPTER - Ill Members and their Right and Liabilities 22.(1) Subject to the provisions of section 24, no person shall be admitted as a member of a society except the following, that it is to say, a. an individual, who is competent to contract under the Indian Contract Act, 1872 ; b. a firm, company or any other body, corporate constituted under any law for the time being in force, or a society registered under the societies registration Act 1860; c. a society registered, or deemed to be registered under this Act; d. the Government ; e. a local Authority ; f. a public trust registered under any law for the time being in force for registration of such trusts ; Provided that, the provisions of clause (a) shall not apply to an individual seeking admission to society exclusively formed for the benefit of students of a school or college; Provided further that, subject to such terms and conditions as may be laid down by the Government by general or special order, a firm or company may be admitted as member only of a society which is a federal or urban society or which conducts or intends to conduct as industrial undertaking ; Provided also that, any firm or company which is immediately before the commencement of this Act a member of a society deemed to be registered under this Act, shall have, subject to the other provisions of this Act, the right to continue to be such member on and after such commencement. Reconstruction of societies. Partnership of societies. X of 1932. Cancellation of registration. Person who may become member. IX of 1872. XXI of 1860. Explanation - For the purpose of this section an "urban society" means a society the business of which mainly falls within the limits of a municipal corporation, municipality, cantonment or notified area committee. (2) Where a person is refused admission as a member of a society, the decision, together with the reasons therefore, shall be communicated to that person within fifteen days of the date of the decision or within three months from the date of the application for admission, whichever is earlier. 23.(1) No society shall, without sufficient cause, refuse admission, to membership to any person duly qualified therefore, under the provisions of this Act and its bye-laws. (2) Any person aggrieved by the decision of a society, refusing him admission to its membership, may appeal to the Registrar. (3)The decision of the Registrar in appeal shall be final and the Registrar shall communicate his decision to the parties within fifteen days from the date thereof. 24.(1) Notwithstanding anything contained in section 22 a society may admit any person as a nominal, associate or sympathizer members. (2) A nominal member or sympathizer member shall not be entitled to any share in any form whatsoever in the profits or assets of the society as such member. A nominal or sympathizer shall ordinarily not have any of the privilege and rights of a member, but such a member or an associate member, may subject to the provisions of sub- section (8) of section 27, have such privileges and rights and be subject to such liabilities, of a member, as may be specified in the bye-laws of the society. 25.· A person shall cease to be a member of a society on his resignation from the membership thereof being accepted, or on the transfer of the whole of his share or interest in the society to another member or on his death, removal or expulsion from the society.