Amendment status not verified — confirm the current text below against the official source.
(1) If, in the opinion, of the Registrar, the Board of any\ Supersession society persistently makes default, or is negligent, in the performance '3 0f Bwrd- of the duties imposed on it by this Act ‘or the Rules of the bye-laws, or commits any act Which is prejudicial to the interests, of the Society or its members, or Wiilfully disobeys directions issued by him for' the purposes of securing proper implementation of Co-operative production; and other development programmes approved or undertaken by Govern-sfi ment, or is otherwise not functioning properly, ,the Registrar may, after giving the Board an opportunity of stating its objects, (if any). Within fifteen days from the date of issue of notice by order in writing remove the Board, and :—- iv" (a) appoint a Board, consisting of three or more members of the society, in its place, or y appoint one or more administrators, Who need not be members of the society, to manage the affairs of the Society for a. period (not exceeding 'two years) specified in the order. Which period may, at the discretion of the Registrar, 'be extended from time to time, so however that the total period does not exceed f 111' yeers in the aggre ate. W (2) The Board or administrator 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 functions of the Board or of any officer of the society, and take all such action as may be required in the interest of the Society. ' (3) If at any time during any period, Wfiended ~1;_e1'iod]referred to in sub-section (1;, it appears to the Registrar, that it is no longer neceSSary to continue to'carry on the affairs of the society as aforesaid, the Registrar, may by an order published in the Official Gazette, direct that the management shall terminate ; and on such order being made, the management of the Society shall be handed over to a new Board duly constituted. (4) The Committee or administrator shall, at the expiry or termi- nation of its or his terms of office. arrange for the constitution of a. new Board in accordance with the bye-Iaws of the society. (5) A11 acts, done or proposed to be done by the Commi‘tee or administrator during the period the affairs of the society carried on by the Committee or administrator appointedflunder. subséctionzu), shall be binding on the new Board; ' I ' 32, Board of ma- nagemeat automatic disqualifica- tion. Registrar's power to enuul the pro- ceedings of Co-cpez‘ative Institution. Power to suspend or dissolve the existing Board or to recons- titute a new Board, (6) The entire Board of Directors of a Central Co-operatve Bank, Urban Co-operati-ve Bank and Primary Land Development Bank and Primary Agricultural Credit Co-operative Society shall stand automa- tically disqualified if the amount of default or the total number of de- faulters exceeds 60 13.0. of the total demand or the total number of indeb‘ ted societies/membere in the case of Central Co-operative Bank, Urban Co-operative Bank and 70 p. c. of the tote} demaind/or the total number of indebted members in'the case of primary Agricultural credit co-ope: rative Societies for a. continuous period of 2 (two) years. (7) On being discovered or declared to be disqualified under sub-section (6). The Registrar shall appoint a Speeial officer who should be charged with the responsibility for managing the affairs of such Banks/Primary Society as long as is necessary but not exceeding 2 (two) years. The officer. appointed in‘ the Bank or in the society shall be Vested with the powers of Registrar under section 156'in respect of individual defaulters at the primary level. If the position of the overdues of the institutions whose manage- ment is entrusted to the special officer does not improve even after the tenure of two years, the management of the institution shall not be res. tored to the elected representative and alternative intstitutional arrange- ment should be made for the provision of agricultural credit and the tenure of the office of the special officer may be extended by one year. Necessary arrangement should be made for liquidation of the society and for extension of the area. of an adjoining viable society so as to enable the. latter to meet the credit needs of the non-defaulters and new members from the area or the Bank may by-pass the society and may undertake to finance the cultivators directly through its branch. (8) ‘All the Cooperative Institutions registered are to submit proceedings of the general body, Board of management and any other committees and subcommittees to the Registrar, Oo-operetive Societies, Manipur within 15 (fifteen) days from the date of the meeting. If in the opinion of the Registrar there is anything in the proceedings which is contrary to the provisions of the Act and Rules and the bye-laws of the society. he may annul such proceedings by an order in writing but of course he Ihall issue a show cause notiee to the concerned officer or the Board etc, 1['78.A. Notwithstanding anything contained in this Act, if the State Government on receipt of a report from the Registrar, Co-operative Societies or otherwise is satisfied that- the manage- ment of a. Society has not been in accordance with the provisions of the Act and creditors of the societies have, for justifiable reasons, raised repeated objections to the method and manner of the manage ment and further that, the management of society, if allowed to continue as Such may likely cause irreparable loss and injury to the Amendment 1: Section 78A was inserted newly by Manipur Act 7 of 1985, see: 2_ society and the public in general, the State Government may, by a. notification in the Official Gazette susgengiihgmfiqard for a period not not exceedingfli2 months at a time and (three years in the *WhOlBQOI' dissolve the Bohrd: 6‘ ’ ““vW‘yw ’ V ' ' Provided that When the Board is suspended or dissolved, or where term of such a Board becomes expired, the State Government may appoint as Adminstrator to exercise and perform the powers and duties of the Board during the period of suSpension 01- till a new Board is reconstituted as the case may be.] ’79. (1) The Registrar may direct any Society or class of Rocietiee, to keep proper books of accounts with Teepeet to all sums of money received and expended by the society and the matters, in respect of Which the receipt and expenditure take place, all sales and purchases of goods by the society, and the assets and liabilities of the society, and to furnish such statements and returns and to produce such records as may be required from time to time ; and the officer or officers of the Society shall be bound to comply with his order within the period specified therein. (2) Where any society is required to take any action under this Act, the rules or bye-iaws, or to comply with an ordervmade under the foregoing sub-section and such action is not taken :— (a) within the time provided in this Act, the rules or the bye-laws, or the order, as the case may be, or (b) where no time is so provided, within such time, having regard to the nature and extent of the action to be taken as the Registrar may specify by notice in writing, the B egistrar may himself, or through a person authorised- by him, take such action, at the expense of the society ; and such expense shall be recoverable from the society as if it were an arrear of land revenue. (3) Where the Registrar takes action under sub-section (‘2), the Registrar may call upon the officer or officers of the society, whom he considers to be responsible for not cemplying with the provisions of this Act, the rules or the bye-laws, or the order made under subsec- tion (1), and, after giving Such officer or officers an opportunity of being, heard, may require him or them to pay to the society the expenSee paidbr payable by it to the State Government as a result of their failure to take aetion anti to pay to the assete of the society such sum not exceeding twenty-five rupees as the Registrar may think fit, for each day until the Registrar’s directions are carried out.