Amendment status not verified — confirm the current text below against the official source.
Inspection of a Co-operative: (1) The Registrar either suo-moto (or based on an application made by a Co-operative, or not less than one third members of the management committee or not less than one tenth of total number of members of 611 co-operative, or a creditor or debtor or depositors) may hold an inspection him/her or order or direct, sum other person to hold an inspection into the constitution, working financial condition and status of a Co-operative. (2) The Registrar, before directing or ordering the conduct of an inspection in a Co-operative, shall provide an adequate opportunity to such co- operative for making representation on the subject matter and if not satisfied with the reply given by Co-operative may order or direct for the conduct of inspection on aspects identified by the Registrar or on the issues raised in the application, as the case may be. (3) In the event of an inspection demanded by persons or authorities specified under sub-section (1), the Registrar may order or direct the conduct of inspection only after the receipt of required fee deemed sufficient enough to conduct and complete the inspection from persons or authorities who demanded conductof such an inquiry. (4) The inspection ordered or directed shall be completed within a period specified in the order or direction and in any case such period shall not exceed ninety days from the date of the order or direction of such inspection. (5) The Registrar while holding an inspection or persons authorised by Registrarto hold such an inspection shall have: (a) free access to the books of accounts, documents, securities, cash or other properties of the Co-operative; (b) power to summon persons in possession or responsibility for the custody of documents specified under sub-section 5(a). (6) The Registrar, within a period of thirty days from the date of completion of inspection, shall communicate the result or findings of such inspection report to: (a) the applicants or persons who demanded such an inspection; (b) the Co-operative; (c) the persons or authorities, if any, named therein in the application for conduct of inspection; 612 (d) the financial institution or funding agency or authority; (e) any member or persons, on payment of fee prescribed by the Registrar. (7) The Registrar shall have power to withdraw any inspection from authorised persons or authorities to whom it was entrusted and hold the inspection either himself/herself or entrust the task to any other persons or authorities as he/she deems fit. (8) The Co-operative Society concerned shall on receipt of the report, place it before the next Annual General Meeting or Special Annual General Meeting with action taken report and to take such action thereon as the General Body may think fit, which may include removal of all or any directors or any other action on employee as required. (9) A copy of the report shall be supplied to any member on requisition and on payment of fees to be determined bythe Registrar.