Amendment status not verified — confirm the current text below against the official source.
(1) Any Co-operative society may, by a resolution passed by a majority of not less than two-thirds of the members thereof present and voting at a general or special general meeting— (a) transfer, wholly or in part, its assets and liabilities to any other Co- operative societies; or (b) divide itself to form two or more new Co-operative societies. (2) Any two or more Co-operative societies may, by resolution passed by not less than two-thirds of the members present and voting at a general or special general meeting of each such Co-operative society, amalgamate themselves and form a new Co-operative society together with the assets and liabilities as certified by the Audit Officer of the Co-operative societies forming such new Co-operative society. (3) A resolution passed under sub-section (1) or sub-section (2) shall contain all particulars relating to the registration transfer of assets and liabilities as certified by the Audit Officer and division or amalgamation, as the case may be, of the concerned Co-operative societies. 24 THE KOLKATA GAZETTE, EXTRAORDINARY, MAY 25, 2010 [PART III The West Bengal Co-operative Societies Act, 2006. (Chapter III.—Change of liabilities, transfer of assets and division and amalgamation of Co-operative societies.---Section 21.) (4) When a resolution has been passed under sub-section (1) or sub-section (2), the Co-operative society or the Co-operative societies concerned shall give notice thereof in writing to all its or dicir members and creditors, within thirty days from the date of the general or special, general meeting, as the case may be, at which the resolution is passed and notwithstanding anything contojoed in any by-law or contract, any such Co-operative society shall have option to withdraw his share or deposit or any creditor of any such Co-operative society shall have option to demand repayment of his loan by such Co-operative society within one month from the date of service of such notice. Such resolution slhail. not take effect until all the claims of the members and the creditors of any such Co-eved-alive society who exercise option under this sub- section have been met in full: Provided that no member, who is. a debtor of a Co-operative society or is a surety for any other member in respe.:a or any loan granted by a Co-operative soeiety, shall exercise option to withdraw re .r deposit antic the: debt cir the loan, in respect of which he its the debtor or saitatta a case may t-eis repaid in full \;-eth interest accrued thereon. (5) On reeiti:a of an applitatica tor registration of a new Co-operative society fora-led under sub-ection (1) or S;jb- -.;:-.ction (2), the Rei.aii,iti-ar shall satisfy EmseIf that the resolution is effective under rob-section (1) and the application and by-laws of toe Co-operative society are in accord ece with the provisions of this Act and the rules, and shall, unless or reasons to 'he rear:rded in ido inks ff to refs .e, register the new CO-ODefEl.;:..;e society the 1.air„:er rob-i-,ection (5) of section 116 and issue a certificate ender secitha7 Ifa (5) Aftu_ a c..-;v Co-operatiaa eay formed by aataigaination of two or snore Cc operative seri-tales or by e of a Co -citwaiaatiae .:tociety has been registered, the registration of the Co-opee societies which are amalgamated or the Co- operative society which is divider. Char stand cancelled arid such Co-operative societies shall be deeLned to have beta d___c_ and cease to exist. (7) Notwithstanding any to the contrary contahied in any other law for the time being in force:— (a) the h:gtstration o-operative formed by division of a Cc y native so,;_ be a suffic:era: ehveyance to vest the assets end liabilities of the Co- i..t!.rative society, as certified by the Audit Officer *rsla divided, 1"! S,K±. new Co-operative societies in accordance with the re-solution passed caster sub-section (5) and a schedule of such assets and liabilities shall be prepared and such schedule shall fonts a part of the certificate under. section 16; • (b) when a resolution is e,?ssed by a Co-operative society under sub- section (2), the resolution shall, if accepted by the transferee society by rc.icOution passed by s majority of nor less than two-thirds of the members present and voting at a general or special general meeting of such society, be a i-,uffiHent convey?rice to vest the assets and liabilities of thc transferor societies as certified by the Audit Officer in the transferee society, copies of such resolution of the transferor societies and the transferee society shall be sent to the Registrar for records; and (c) the registration of a new Co-operative society formed by amalgamation shall be a sufficient conveyance to vest the assets and liabilities of the Co-operative societies, as certified by the Audit Officer which are amalgamated in the on's Co-operative society in accordance with the resolution passed under sub-section (2) and a schedule of such assets and liabilities shall be hrepared and such schedule shall form a part of the certificate under section 16. PART III] THE KOLKATA GAZETTE, EXTRAORDINARY, MAY 25. 2010 25 Powers of Registrar to order division, reorganisation or amalgamation of Co-operative societies. The West Bengal Co-operative Societies Act, 2006. (Chapter 111—Change of liabilities, transfer of assets and division and amalgamation of Co-operative societies.—Section 22.)