Amendment status not verified — confirm the current text below against the official source.
(1) "Where the Registrar is satisfied that it is necessary in the interest of the co-operative movement or for the purpose of securing the proper management of any co-opetative society that two or more co-operative societies should amalgamate, the Registrar may make a preliminary order providing for the amalgamation of such societies into one society with such constitution, property, rights, interests and authorities, and such liabilities, duties and obligations as may be specified in such order. (2) The Registrar shall thereupon publish, in the prescribed manner, the preliminary order of amalgamation along with a notice calling upon every co-operative society to be amalgamated, and every member or creditor of such society to make objections or suggestions, if any, to him with respect to such order within two months from the date of publication of such order, and shall also send a copy of such order and notice to every such society. Power of the Registrar to order amal- gamation of co-opetative societies. 203 The West Bengal Co-operative Societies Act, 1973. [West Ben. Act (Chapter V111—Division, transfer of assets and liabilities, and amalgamation, of co-operative societies.—Section 77.) (3) After considering such objections and suggestions, if any, as may have been received by him within the time mentioned in sub-section (2), the Registrar may make the preliminary order of amalgamation final with such changes and modifications as he thinks necessary. Such final order of amalgamation may also contain such incidental, consequential and supplemental provisions as may, in the opinion of the Registrar, be necessary for the efficient functioning of the new society formed by amalgamation. (4) Any member or creditor of any of the co-operative societies to be amalgamated, who has objected to the preliminary order of amalgamation within the time mentioned in sub-section (2), shall be entitled to withdraw his share or interest or, as the case may be,. the amount due to him, from such society: Provided that no member who is a debtor of his society or is a surety for any other member shall withdraw his share or interest until such time as the debt in respect of which he is the debtor or the surety is repaid with all interests accrued thereon. (5) A final order of amalgamation made under sub-section (3) shall take effect— (a) where no appeal is preferred from such order under section 134, on the expiry of the time allowed for preferring an appeal; or (b) where an appeal is preferred from such order, upon rejection of the appeal by the appellate authority. (6) Notwithstanding anything to the contrary contained in any other law for the time being in force, upon a final order of amalgamation taking effect under sub-section (5), the original societies which are amalgamated shall be deemed to have been dissolved and shall cease to exist, and all the assets and liabilities of such societies shall vest in the new society formed by amalgamation in accordance with the final order of amalgamation. Power of the Registrar to order division of co-operative society or transfer of assets and liabilities of a co-opera- tive society.