Amendment status not verified — confirm the current text below against the official source.
Notwithstanding anything contained in this Act, where any co-operative society is required to take any action under this Act, the rules or the bye-laws and such action is not taken- (a) within the time provided in this Act, the rules or the bye-laws ; or (b) where no time is so provided within such time, having regard to the nature and extent of the action to be taken, as the Registrar may specify by a notice in writing. The Registrar may himself, or by a person authorised by him in this behalf, take such action at the expense of the society, or may call upon any officer of the society whom, in accordance with such principles as may be prescribed, he considers to be responsible for the carrying out of his directions and, after giving such officer an opportunity of being heard, may require him to pay, to the assets of the society, such sum not exceeding ten rupees, as the Registrar may think fit, for each day, until the Registrar’s directions are carried out.