Amendment status not verified — confirm the current text below against the official source.
Supersession and suspension of committee:- *(1) If, in the opinion of the Registrar, the committee of any co-operative society,- (i) is persistently making default; or (ii) is negligent in the performance of its duties imposed on it under this Act or the rules or the bye-laws framed thereunder; or (iii) has committed any act which is prejudicial to the interest of the society or its members; or (iv) has failed to conduct elections in accordance with the provisions of this Act; or (v) has caused a stalemate in the constitution or functions, the Registrar may, after giving the committee an opportunity to state its objections, if any * Section 31(1) 2nd proviso substituted and re-substituted by Act No 19 of 2006 and Act No. 18 of 2007. Section 33 – * Sub Section (1) 3rd proviso inserted by Act No. 7 of 1988. ** In third proviso to sub section (1) words ‗upto two years‘ substituted for words ‗four years but not more than a year at a time‘ by Act No. 19 of 2006. * Section 33 – Sub section (1), substituted by Act No. 10 of 2013. * Section 33 – Sub section (3A), Omitted by Act No. 10 of 2013. * Section 34 marginal heading substituted by Act No. 10 of 2013. * Section 34 – Sub section (1) substituted by Act No. 10 of 2013. 20 and considering the objections, if received, by order in writing, supersede the committee and order fresh election of the committee or appoint administrators to manage the affairs of the society for such period not exceeding six months and in case of a co-operative society carrying on the business of banking, for a period not exceeding one year: Provided that the committee of any such co-operative society shall not be superseded or kept under suspension where there is no government shareholding or loan or financial assistance or any guarantee by the Government: Provided further that if the committee of a co-operative bank is superseded, the Registrar shall do so with the approval of the Reserve Bank: Provided further that in case of a co-operative society carrying on the business of banking, the provisions of the Banking Regulation Act, 1949 shall also apply: Provided further that the Registrar shall ensure implementation of regulatory prescriptions of the Reserve Bank including supersession of the managing committee of Central Co-operative Bank or the Haryana State Co-operative Apex Bank Limited and the appointment of administrators within one month of being so advised by the Reserve Bank.‖. (2) Where the Registrar, while proceeding to take action under sub-section (1), is of the opinion that suspension of the committee during the period of proceedings is necessary in the interest of the co- operative society, he may suspend the committee and make such arrangement as he thinks proper for the management of the affairs of the society till the proceedings are completed : Provided that if the committee so suspended is not removed, it shall be reinstated and the period of suspension shall count towards its tenure : Provided further that the period of suspension shall not exceed six months. (3) The administrators appointed under sub-section (1) shall arrange, for the election of a committee in accordance with the bye-laws of the society failing which the Registrar shall arrange to hold the election. (4) Before taking any action under sub-section (1) in respect of a co-operative society, the Registrar shall consult the financing institution to which it is indebted.