Amendment status not verified — confirm the current text below against the official source.
Where a compromise or arrangement is proposed— (a) between a society and its creditors, or (b) between a society and its members the Registrar may, in the application of the society or of any member or of any creditors of the society, or in the case of a society which is being wound up, of the liquidator, order reconstruction in the prescribed manner, of the society.