Amendment status not verified — confirm the current text below against the official source.
(1) If the Registrar is satisfied after due consultation with the respective apex society in the manner prescribed that it is essential in the public interest or in the interest of co-operative movement or for the purpose of securing the proper management of any co-operative society that any two or more co-operative societies should be amalgamated or reorganised, then notwithstanding anything contained in section 19, the Registrar may by a notice direct the said co-operative societies, stating reasons therefor, to cause such amalgamation or reorganisation, as the case may be, with such constitution, property, rights, interest, authority, liabilities, duties and obligations as may be specified in the notice within three months of the date of the notice. If the direction is not acted upon or complied with within the said period, the Registrar shall cause amalgamation or reorganisation, as the case may be, of the concerned co-operative societies by an order in writing and communicate the order to all concerned and shall issue registration certificate or certificates under section 16 in respect of the co-operative society or societies formed by amalgamation or reorganisation, as the case may be, and the by-laws thereof framed by him: Provided that notwithstanding anything to the contrary contained in any other law in force for the time being, no order for amalgamation or reorganisation of any co-operative bank shall be made without prior consultation with the Reserve Bank of India: Provided further that the Registrar shall not order amalgamation of a co-operative society which has a total accumulated loss exceeding its assets with any other co-operative society earning profit. (2) No order shall be made under sub-section (1) unless— (a) a draft of the order has been sent to each of the co-operative societies in the prescribed manner inviting suggestions or objections, if any, within such period, not being less than three months, as the Registrar may fix in this behalf; and (b) the Registrar has considered the suggestions or objections, if any, received from the co-operative societies or from any member, class of members, creditors or class of creditors thereof, and made such modification in the draft as he may deem fit. Powers of Registrar to order amalgama- tion or reorganisation of co- operative societies. 323 The West Bengal Co-operative Societies Act, 1983. [West Ben. Act (Chapter 111.—Transfer of assets and liabilities, and division and amalgamation of co-operative societies.—Section 21.) (3) An order made under sub-section ( 1) may contain such incidental, consequential or supplemental provisions as may, in the opinion of the Registrar, be necessary for the purpose of the amalgamation or reorganisation, as the case may be. (4) Every member or creditor of any of the co-operative societies to be amalgamated or reorganised, who has filed objections under clause (a) of sub-section (2), shall be entitled to receive after the order has been made under sub-section (1) his share or deposit, if he is a member, or the amount in satisfaction of his claim, if he is a creditor. (5) An order made under sub-section (1) shall take effect,— (a) when no appeal from such order is preferred under section 136, on the expiry of the time allowed for preferring an appeal, or (b) where an appeal from such order is preferred under section 136, 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, an order made under sub-section (1) for amalgamation or reorganisation shall, upon taking effect under sub- section (5), be a sufficient conveyance to vest the assets and liabilities as per schedule of assets and liabilities specified in the order and the co- operative societies which are amalgamated or reorganised shall be deemed to have been dissolved and shall cease to exist. Amalgam- ation of any central co- operative bank with any other central co- operative bank or with the State Co- operative Bank.