Amendment status not verified — confirm the current text below against the official source.
Cognizance of offences.- (1) No court inferior to that of a magistrate first class shall try any offence under this Act. (2) Notwithstanding anything contained in the Code of Criminal Procedure, 1898 (5 of 1898), every offence under this Act shall for the purposes of the said Code be deemed to be non-cognizable. (3) No prosecution under this Act shall be instituted without the previous sanction of the Registrar and without a complaint in writing made by him or by any person authorised by him in this behalf. 1[CHAPTER XIII-A] INSURED CO-OPERATIVE BANKS 97-A. Winding up order of insured banks.- Notwithstanding anything contained in this Act, in the case of any insured co-operative bank- (i) an order for the winding up, or an order sanctioning a scheme of compromise or arrangement or of amalgamation or reconstruction (including division or re-organisation), of the bank may be made only with the previous sanction in writing of the Reserve Bank of India; (ii) an order for the winding up of the bank shall be made by the Registrar if so required by the Reserve Bank of India in the circumstances referred to in section 13-D of the Deposit Insurance and Credit Guarantee Corporation Act, 1961 (47 of 1961); (iii) if so required by the Reserve Bank of India in the public interest or for preventing the affairs of the bank being conducted in a manner detrimental to the interests of the depositors or for securing the proper management of the bank, an order shall be made for the supersession (removal) of the committee of management or other managing body (by whatever name called) of the bank and the appointment of an administrator therefor for such period or periods, not exceeding five years in the aggregate, as may from time to time be specified by the Reserve Bank of India, and the Administrator so appointed shall, after the expiry of his term of office, continue in office until the day immediately preceding the date of the first meeting of the new committee of such bank; (iv) no appeal, revision or review shall lie or be permissible against an order such as is referred to in clauses (i), (ii) or (iii) made with the previous sanction in writing or on the