Amendment status not verified — confirm the current text below against the official source.
Inspection of books of a co-operative society.- (1) The Registrar may of his own motion, or on the application of a creditor of a co-operative society, inspect or direct any person authorized by him by order in writing in this behalf, to inspect the books of the society: Provided that no such inspection shall be made on the application of a creditor unless the applicant,— (a) satisfies the Registrar that the debt is a sum then due, and that he has demanded payment thereof and has not received satisfaction within a reasonable time; and (b) deposits with the Registrar such sum as security for the costs of the proposed inspection as the Registrar may require. (2) The Registrar shall 2[send a copy of the inspection report and communicate] 2 1 [the result of any such inspection to the Director of Co- operative Audit and] 1 ,— (a) where the inspection is made of his own motion to the society; and (b) where the inspection is made on the application of a creditor, to the creditor and the society.