Amendment status not verified — confirm the current text below against the official source.
(1) No amendment of any bye-laws of a Co-operative Society shall be valid unless such amendment has been registered under this Act. (2) Every proposal for such amendment shall be forwarded to the Registrar and if the Registrar is satisfied that the proposed amendment (i) is not contrary to provisions of this act and the rules ; (ii) does not conflict with Co-operative principles ; (iii) satisfies the requirements of sound business ; (iv) will promote the economic interests of the members of the Society ; and (v) is not inconsistent with the principles of social justice ; he may 1 [register the amendment within one month from the date of receipt of the application]. (3) The Registrar shall forward to the Society a copy of the registered amendment together with a certificate signed by him and such certificate shall be conclusive evidence that the amendment has been duly registered. (4) Where the Registrar refuses to register an amendment of the bye-laws of a Co-operative Society he shall communicate the order of refusal, together with the reasons thereof, 2 [to the Society within one month from the date of receipt of the application].