Amendment status not verified — confirm the current text below against the official source.
(1) The Registrar shall supervise or cause to be supervised by a person authorised by him by general or special order in writing in this behalf, the working of every society as frequently as he may consider necessary. The supervision under this sub-section may include an inspection of the books of the society. (2) The Registrar may, on his own motion, or on the application of a creditor of a society, inspect or direct any person authorised 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 a sum as security for the costs of the proposed inspection as the Registrar may require. 69I[(2A) The Registrar may authorize special team of officers under his control for the inspection of apex, central and federal co-operative societies and all other primary co-operative societies. (2B) The report of such inspections shall be communicated in writing to the apex, central and federal societies and all primary co-operative societies concerned, within a period of thirty days and the Committee and the chief executive of the society concerned shall be under an obligation to file a para-wise satisfactory compliance report before the Registrar within a period of forty five days from the date of such communication.] (3) Where the inspection under sub-section (2) is made on the application of the creditor, the Registrar shall communicate the result of such inspection to such creditor. 69F[(4) The Registrar or any person authorised by him under sub-section (l) or sub-section (2) shall at all reasonable time have free access to and have power to inspect the books, records, accounts, documents, securities, cash balance and other properties belonging to the society and may summon any person in possession of or responsible for the custody of such books, records, accounts, documents, securities, cash balance and other properties, to produce the same for inspection at any place at the Headquarters of the society or any branch thereof or where there is no working office for the society, at the office of the Registrar or at the office of any of his.subordinate officers. (4A) It shall be the duty of every officer and employee of the society to co-operate with and assist in such supervision or inspection, to furnish any information that may be required for the purpose and to produce the books, records, cash balance etc. referred to in sub-section (4), on demand by such officer, failing which it shall be treated as an offence under sub-section (4) of section 94.] (5) The Registrar or the person authorised by him under sub-section (1) or sub-section (2) may, by order in writing, direct the society or its officers to take such action as may be specified in such order within the time that may be mentioned in such order. 69J[x x x x] (7) Apex Society or Federal Cooperative Society or a financing bank shall have the right to inspect the books of any registered society which is affiliated to it, through its officers. (8) An officer of an Apex Society or Federal Cooperative Society or a financing bank, inspecting the books of a society shall at all reasonable times have the access to the books, accounts, documents, securities, cash and other properties belonging to the society and may call for such information, statements and returns as may be necessary to ascertain the financial condition of the society and the safety of the sums lent to it. (9) An officer referred to in sub-section (8) shall also have power to summon any person in possession of or responsible for the custody of any books, accounts, documents, securities, cash and other properties referred to in that sub-section to produce the same for inspection or verification at any place at the head-quarters of the society or any branch thereof. (10) Apex Society or Federal Cooperative Society or the financing bank may also report to the Registrar about the action to be taken against the society as a result of the inspection by its officers. 69G[(11) Notwithstanding anything contained in sub-sections (1) and (2) above, the Registrar or his subordinate officers authorized by him under sub-section (1), shall have power to hold an enquiry with necessary records of a society, on any petition received, and to inspect the affairs of a society periodically, in such cases, the inspecting officers shall have the same powers as specified in sub-section (4). Explanation 1:-- The "affairs of a society" for the purpose of this subsection includes, among other things, matters relating to administration, management and the business of a society. Explanation 2:-- The duty of the officers and chief executive of a society and the nature of offences and penalties mentioned in 69H[sub-section (4A)] shall be applicable to this sub-section also.] Substituted by Act 7 of 2010 w.e.f. 28-04-2010. Inserted by Act 7 of 2010 w.e.f. 28-04-2010. Substituted by Act 22 of 2013 published in K. G. Ext. No. 1162 dt. 25/04/2013 (w.e.f.28/04/2010). Prior to the substitution it read as: "sub-section (4)" Inserted by Act 9 of 2024 published in K.G.Ext. No.1829 dt. 07/06/2024 (w.e.f. 07/06/2024). Deleted 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 deletion it read as " (6) The Circle Cooperative Union shall have the power to direct that a non-official member thereof shall be present at an inspection under sub-section (2): Provided that such non-official member shall not have the power to make the inspection himself."