Amendment status not verified — confirm the current text below against the official source.
Sub-section (1) substituted by G.O.Ms.No.53, Agriculture and Cooperation (Coop-II) Department, dated 20.05.2016. Supersession of the committee. 72 [Act No.7 of 1964] (iii) The Board has committed any act prejudicial to the interests of the co-operative society or its members; or (iv) There is stalemate in the constitution or functions of the Board; or 164[(v) [xxx]] (c) by order, supersede or suspend the Committee from a specified date and appoint the Official Administrator (The Registrar may after giving the Committee an opportunity of making its representations) to manage the affairs of the society, as per the conditions of service as may be prescribed, for a period of not exceeding six months: Provided that the Committee of any such co- operative society shall not be superseded or kept under suspension where there is no Government shareholding or loan or financial assistance/subsidy of any form or any guarantee by the Government: Provided further that in case of a Co-operative society carrying on the business of banking, the provisions of the Banking Regulation Act, 1949 shall also apply: Provided also that in case of a Co-operative society, other than a multi-state co-operative society, carrying on the business of banking, the period of supersession or suspension shall be for one year instead of six months. (d) In case of supersession/suspension of a Board, the Registrar shall appoint the Official Administrator(s) to manage the affairs of such co-operative society and the said Administrator(s) shall arrange for conduct of elections by the