Amendment status not verified — confirm the current text below against the official source.
(1) The Registrar shall make an order cancelling the registration of a society, if it transfers the whole of its assets and liabilities to another society, or if its affairs are wound up, or the winding up proceedings in respect of the society are closed or terminated Reconstruction of societies Partnerahip of societies. 9 of 1932 Cancellation of Registration 17 under section 112, or it has not commenced business, within one year of its registration, or has ceased to function, or if he is satisfied, after making such inquiry as he thinks fit, that the society no longer has genuinely as its Objects one or more of the objects specified in section 4 and its registration ought to, in the interests of the general public, be cancelled. The society shall, from the date of such order of cancellation, be deemed to be dissolved, and shall cease to exist as a corporate body, “(2) No primary agricultural credit society or its federation or association (except those which are permitted to act as a bank under Banking Regulation Act, 1949 [Central Act No. 10 of 1949)] shall be registered with the words ‘bank’ or any other derivative of the word ‘bank’ in its registered name or shall use the same as a part of its name. Provided that where any primary agriculture credit society or its federation or association [except those which are permitted to act as a bank under Banking Regulation Act, 1949 (Central Act No. 10 of 1949)] has been registered or using the same as a part of its name before the commencement of the Tripura Co-operative Societies name, it shall, within three months from the date of such commencement, change its name so as to remove the word ‘bank’ or its derivative, if any, from its name. Provided further that where any such society fails to comply with the above provisions within the period specified therein, the Registrar shall order the winding up of such society forthwith.”1* “21A, Co-operative credit structure society shall have the freedom for its operation without mandatory restrictions of geographical boundaries.”2* --------------------------------------------------------------------------------------------------------------------- 1* Subsection (2) of Section 21 with provisos inserted by TCS (Second Amendment) Act