Amendment status not verified — confirm the current text below against the official source.
(1) Where the Registrar is satisfied that it is essential in the public interest, or in the interest of the OO-operative Movement, or for the purpose of securing the proper management of any society that two or more societies should amalgamate or any society should be divided to form two or more societies or should be reorganised then not withstanding anything contained in the last preceding section but subject to the provisions of this section, the Registrar may after con- sulting such federal society as he thinks necessary provide for the amalgamation, division or reorganisation of these societies into a single society with such constitution, property, rights. interests and autho- rities, and such liabilities, duties and obligations, as may be specified in the order. (2) No order shall be made under this section, unless :— (a) a. copy of the proposed order has been sent in draft to the society or each of the societies concerned ; (b) the Registrar has considered and made such modifications in the draft order as may seem to him desirable in the light of any suggestions and objections which may be received by him within such period (not being less than two months from the date on which the copy of the order as aforesaid was received by the society) as the Registrar may fix in that behalf, either from the society or from any member or class of members thereof or from any creditor or class of creditors. , (3) The order referred to in subsection (1) may contain such incidental, consequential and supplemental provisions as may in the opinion of the Registrar, be necessary to give effect to the amalgamation, division or re-organisation. (4) Every member or creditor of each of the societies to be amalgamated, divided or re-organised, Who has objected to the scheme of amalgamation, division or reorganisation, within the period specified, shall be entitled to receive on the issue of the order of amalgamation or reorganisation his share or interest if he be a member, and the amount in satisfaction of his dues if he be a. creditor. (5) On the issue of an order under sub-section (1), the provisions in subsections (2), (3) and (4) of section 1'7 shall apply, to the societies so amalgamated, divided or re-organised as if they were amalgamated, divided or re-organised under the section, and to the society amalga- mated,divided or re-organised.