Amendment status not verified — confirm the current text below against the official source.
[(1) If the Registrar, after an inquiry by himself or through his subordinates or on a report of the financing bank, or the Vigilance and Anti Corruption Bureau of the Government or the Vigilance Officer or other wise is satisfied that the committee of any society,-- (a) persistently makes default or is negligent in the performance of the duties imposed on it by this Act or the rules or bye-laws or does anything which is prejudicial to the interests of the society; or (b) willfully disobeys or fails to comply with any lawful order or direction issued under this Act or the rules; or 53A[(ba) willful disobedience of execution of orders etc., referred to in section 76 of the Act; or] (c) makes any payment contrary to this Act or the rules or the bye-laws or causes any loss or damage to the assets of the society by breach of trust of willful negligence; or 52A[(d) misappropriates or destroys or tampers with the records or causes the destruction of records to cover up any misconduct or malpractice, he may, after giving the committee an opportunity to state its objections, if any, by order in writing, remove the committee and appoint in its place, one administrator or an administrative committee consisting of not more than three individuals, one among them as convener, 53B[who shall be from among the members of the society], to manage the affairs of the society for a period not exceeding six months 52AA[x x x x] 52AB[Provided that in the case of co-operative society, carrying on the business of banking, the provisions of the Banking Regulation Act, 1949 (Central Act 10 of 1949) shall also apply: Provided further that in the case of a co-operative society, carrying on the business of Banking, appointment of administrator/administrative committee shall not exceed one year in the aggregate:] 52AC[x x x x] 52AD[Explanation 53C[x x x x]:-- ] A notice and an order given as per this clause to the President, in his absence to the Vice President or any committee member who is holding charge of President or Vice President or to the Chief Executive of a society shall be treated as an order given to the committee of the society.]] 52B[(e) Every member of the committee superseded under this section shall from the date of order of such supersession stand disqualified to contest in the election to or to be nominated to the committee of any Society or to be appointed as an administrator in any society for 53D[next one term].] (2) The Registrar shall consult the financing bank and Circle Cooperative Union or State Cooperative Union as the case may be before passing an order under sub-section (1). (3) Notwithstanding anything contained in sub-section (1) or sub-section (2) it shall not be necessary to give an opportunity to the committee to state its objections and to consult the Unions and financing banks, in cases where the Registrar is of the opinion that it is not reasonably practicable to do so, subject however to the condition that in such cases the period of supersession shall generally be for six months and in case a new committee, cannot be constituted or enter upon office in accordance with the bye-laws of the society within the period of supersession the period may be extended for a further period not exceeding six months-- (a) in the case of a Cooperative society only after consulting the Circle Cooperative Union concerned; and (b) in the case of an Apex Society and a Central Society only after consulting the State Cooperative Union. (4) The Committee or administrator or administrators so appointed shall, subject to the control of the Registrar and to such instructions as he may from time to time give, [have power to exercise all or any of the powers and functions] of the committee or of any officer of the society and take such action as may be required in the interests of the society. 53E[including enrollment of members, provided such members shall not have voting rights unless an elected committee ratifies the membership.] (5) The Committee or administrator or administrators shall, before the expiry of its or his or their term of office, arrange for the constitution of a new committee in accordance with the bye- laws of the society. (6) Every order made by the Registrar under sub-section (1) shall be communicated to the Circle Cooperative Union. Substituted by Act 1 of 2000 w.e.f. 1-1-2000 for " (1) If the Registrar is satisfied that the committee of any society persistently makes default or is negligent in the performance of the duties imposed on it by this Act or the rules or bye-laws or commits any act which prejudicial to the interest of the society or wilfully disobeys or wilfully fails to comply with any lawful order or direction issued under this Act or the Rules, the Registrar may, after giving the committee an opportunity to state its objections, if any, by order in writing remove the committee and- (a) appoint a new committee consisting of not more than three members of the society in its place; or (b) appoint one or more Administrator or administrators who need not be a member or members of the society, to manage the affairs of the society for a period not exceeding one year as may be specified in the order, which period may, at the discretion of the Registrar, be extended from time to time, so however that the aggregate period does not exceed two years. Substituted by Act 7 of 2010 w.e.f. 28-04-2010. Omitted by Act 8 of 2013 w.e.f. 14-02-2013. Added by Act 8 of 2013 w.e.f. 14-02-2013. Omitted by Act 9 of 2024 published in K.G.Ext. No.1829 dt. 07/06/2024 (w.e.f. 07/06/2024). Prior to the Omission it read as "Provided also that the board of a co-operative society shall not be superseded or kept under suspension where there is no Government share holding or loan or financial assistance or any guarantee by the Government or any Board or Institutions constituted by the Government. Explanation I:-- For the purposes of this proviso, financial assistance includes any financial assistance from the Kerala Cooperative Development and Welfare Fund Board, Deposit Guarantee Scheme implemented by the Kerala Cooperative Deposit Guarantee Fund Board, Kerala Cooperative Risk Fund Scheme implemented by the Kerala Cooperative Development and Welfare Fund Board, National Bank for Agriculture and Rural Development, National Cooperative Development Corporation and any other financial institution under the control of the State or Central Government and also any financial assistance guaranteed by the said institutions." Renumbered by Act 14 of 2017 (w.e.f. 10/04/2017). Inserted by Act 7 of 2010 w.e.f. 28-04-2010. Substituted by Act 1 of 2000 w.e.f. 1-1-2000 for "have power to exercise all or any of the functions" Added by Act 9 of 2024 published in K.G.Ext. No.1829 dt. 07/06/2024 (w.e.f. 07/06/2024). Substituted by Act 9 of 2024 published in K.G.Ext. No.1829 dt. 07/06/2024 (w.e.f. 07/06/2024). Prior to the Substitution it read as "who need not be members of the society' Omitted by Act 9 of 2024 published in K.G.Ext. No.1829 dt. 07/06/2024 (w.e.f. 07/06/2024). Prior to the Omission it read as "II" Substituted by Act 9 of 2024 published in K.G.Ext. No.1829 dt. 07/06/2024 (w.e.f. 07/06/2024). Prior to the Substitution it read as " two consecutive terms" Added by Act 9 of 2024 published in K.G.Ext. No.1829 dt. 07/06/2024 (w.e.f. 07/06/2024).