Amendment status not verified — confirm the current text below against the official source.
Proviso inserted ibid, s. 6. CO-OPERATIVE SOCITIES ACT, 1989. 55 may be continued or commenced by its new name. 1[(4) No Primary Agricultural Co-operative Credit Society or its Federation or Association (except those which are permitted to act as a bank under Banking Regulation Act, 1949 (Central Act No. 10 of 1949) shall be registered with the words ‘bank’ or any other derivative of the word ‘bank’ in its registered name or shall use the same as a part of its name : Provided that where any Primary Agricultural Credit Society is presently using the word ‘bank’ or any other derivative of this word, it shall within three months from the date of coming into force of the Jammu and Kashmir Co-operative Societies (Amendment) Act, 2010 remove the word ‘bank’ or its derivative, if any, from its name : Provided further that in the event of failure on the part of the Society concerned to remove such word from its name, the Registrar shall, after affording a reasonable opportunity of being heard to such Society, order the winding up of such Society forthwith].