Amendment status not verified — confirm the current text below against the official source.
(1) The Registrar may direct any society or class of societies, to keep proper books of accounts with respect to all sums of money received and expended by the society, and the matters in respect of goods by the society, and the assets and liabilities of the society, and to furnish such statements and returns and to produce such records as he may require from time to time ; and the officer or officers of the society shall be bound to comply with his order within the period specified therein. (2) Where any society is required to take any action under this Act, the rules or the bye- laws, or to comply with an order made under the foregoing sub-section and sub action is not taken- (a) within the time is so provided in this Act, the rules or the bye-laws, or the order, as the case may be, or Registrar’s power to enforce performance of obligations 43 (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 notice in writing. The Registrar may himself, or through a person authorised by him, take such action, at the expense of the society; and such expense shall be recoverable from the society as if it were an arrear of land revenue. (3) Where the Registrar takes action under sub-section (2), the Registrar may call upon the officer or officers of the society whom he considers to be responsible for not complying with the provisions of this Act, the rules or the bye-laws , or the order made under sub-section (1), and after giving such officer or officers an opportunity of being heard, may require him or them to pay to the society the expenses paid or payable by it to the Government as a result of their failure to take action, and to pay to the assets of the society such sum not exceeding twenty-five rupees as the Registrar may think fit for each day until the Registrar’s directions are carried out. “75A. (1) The Registrar shall ensure that Reserve Bank’s regulatory prescriptions in case of State Co-operative Bank including recommendation for super session of the committee and winding up of the State Co-operative Bank are implemented within one month of being so advised bt the Reserve Bank. (2) The Registrar shall ensure that the liquidator or the Administrator, as the case may be, is appointed within one month of being advised by the Reserve Bank for winding up or super session. (3) If, in the opinion of the Reserve Bank or the National Bank, the Chief Executive Officer of the State Co-operative Bank does not fulfil eligibility criteria specified bt the Reserve Bank, the Registrar shall ensure removal of the Chief Executive Officer within one month of being so advised by the Reserve Bank or the National Bank. *1 (4) If, in the opinion of the Reserve Bank or the National Bank, a person has been coopted as a member of the committee under sub-section (5) of section 65 without having the requisite special knowledge or experience in such fields as may be stipulated by the Reserve Bank, the Registrar shall, on being advised by the Reserve Bank or the National Bank, ensure removal within one month of being so advised by the Reserve Bank or the National Bank. --------------------------------------------------------------------------------------------------------------------- *1 Section” 75A” inserted by TCS (Second Amendment) Act 2009.