Amendment status not verified — confirm the current text below against the official source.
Powers of Liquidator.- (1) Subject to any rules made in this behalf, the whole of the assets of a co-operative society in respect of which an order for winding up has been made, shall vest in the Liquidator appointed under section 73 from the date on which the order takes effect and the Liquidator shall have power to realise such assets by sale or otherwise. (2) Such Liquidator shall also have power, subject to the control of the Registrar,— (a) to institute and defend suits and other legal proceedings on behalf of the co-operative society by the name of his office; (b) to determine from time to time the contribution to be made or remaining to be made by the members or past members or by the estates or nominees, heirs or legal representatives of deceased members or by any 1 [office bearers] 1 or former 1 [office bearers] 1 , to the assets of the society;