Amendment status not verified — confirm the current text below against the official source.
(1) A bank shall have the right to inspect the rnspcc~ion of books books of any co-operative society which has either ,fmapcra- applied to the bank for fi~~a~lcial assistance or is tlvc S O C ~ C ~ P - by a bank. indebtod to the bank on account of financial assis- tance granted earlier. (2) The inspection nlay be carried out by an officer or any other ~nembcr of the paid staff of the bank with the previous satlction in writing of the Registrar of Co-operative Societies. (3) The oEcer or ahy other member of the paid staff of the bank undertaking such ins- pection, shall, at all reasonable times, have access, to the books of accounts, documents, securities, cash and other properties belonging to or in the custody of the Co-oprative Society inspected by him, and shall also be supplied by such society, such information, -statements and returns as may be required by him to assess the financial condition of the society and the safety of financial assistance to be made to the society or already made to it.