Amendment status not verified — confirm the current text below against the official source.
Notwithstanding anything contained elsewhere in this Act, when a Co-operative society fails to take any action required to be taken by it under this Act or its by-laws— (a) within such period as may be specified in this Act or the by-laws; or (b) where no such period is specified, within such period as the Registrar may, having regard to the nature and extent of the action to be taken, specify by notice in writing, the Registrar may himself or any person authorised by him in this behalf, may take such action at the expense of the Co-operative society or may call upon any officer of the Co-operative society, whom he considers to be responsible for carrying out his directions and may, after giving such officer an opportunity of being heard, require him to pay to the assets of the Co-operative society a sum not exceeding twenty-five rupees for each day until his directions are carried out.