Amendment status not verified — confirm the current text below against the official source.
(1) If the Registrar, after an inquiry has been help under section 81,or an inspection has been made under section 82 or section 86, or on receipt of an application made upon a resolution carried by three-fourths of the members of a society present at a special general meeting called for the purpose, or on the report of the audit held under section 79, is of the opinion that the society ought to be wound up, he may, after giving the society an opportunity of making its representation within a reasonable time as may be decided by him, issue an order directing it to be wound up and such order shall forthwith be communicated to the society by registered post. (2) Where an appeal is preferred against the order of winding up of a society under sub-section (1) of section 107, the order of winding up shall not operate thereafter until the order is confirmed in appeal : Provided that the Liquidator shall continue to have custody or control of the properties and effects and actionable claims. (3) The Registrar may of his own motion, direct in writing the winding up of any society- (a) where the society has not commenced working or has ceased to work within the period as prescribed, or (b) where the number of members has been reduced to less than ten or the amount of their deposits and share capital less than five hundred rupees. or Winding up 58 1*” where any existing society falls within the area of operative of a similar class of re- organised society as approved by the Registrar and the existence of former society /societies in the opinion of Registrar is likely to be detrimental to the interest of the Cooperative Movement : Provided that no such direction shall be issued without giving the society/societies interested an opportunity of being heard”.