Amendment status not verified — confirm the current text below against the official source.
Notwithstanding anything contained in this Act, it‘ the “Power to State Government on receipt of a report from the suspend or Registrar. Co-Operative Societies or otherwise is satisfied dissolve the that the management of a Society has not been in existing accordance with the provisions of the Act and creditors Board or of the societies have, for justifiable reasons, raised to rccons- repeated objections to the method and'manner of the titute a management and further that, the management of society, new Board. if allowed to continue as such may likely cause irreparable loss and injury to the Society and the public in general, the State G'W‘xnment may, by a notification in the Official Gazette, §uspend the Board for a period not exceeding 12 mOnths at a time and three years in the whole or dissolve the Board: Short title and com- Insertion of a new set:tion'18.flt.p Repeal and Savings. Provided that when the Board is suspended or dissolved, or where the term of such a Board becomes expired, the State Government may appoint as Adminis- trator to exercise and perform the powers and duties of the Board during the period of suspension or tilla new Beard is reconstituted as the 0353 may be.”