Amendment status not verified — confirm the current text below against the official source.
Inspection.- (1) The Registrar may, of his own motion, or on the application of a credit of a registered society, inspect or direct any person authorised by him in this behalf by general or special order in writing to inspect the books of the society and the person so authorised shall have all the powers of the Registrar when holding an inquiry under section 75: Provided that no such inspection shall be made or directed on the application of a creditor, unless the creditor- (a) satisfies the Registrar that the debt is a sum then due and that he has demanded payment thereof and has not received satisfaction within a reasonable time; and (b) deposits with the Registrar such sum as security for the costs of the proposed inspection as the Registrar may require. 87 (2) Where an inspection is made under sub-section (1), the Registrar shall communicate the results of such inspection– (a) where the inspection is made on his own motion to the society; and (b) where the inspection is made on the application of a creditor, to the creditor and to the financing bank, if any, to which society is affiliated. (3) The Registrar may, by order in writing, direct any officer, of the society to take such action as may be specified in the order to remedy within such time as may be specified therein the defects, if any, disclosed as a result of the inspection.