Multi-State Co-operative Societies Act : Central Registrar to prepare scheme of amalgamation or

Multi-State Co-operative Societies Act,2002

Act No : 39

Section : Central Registrar to prepare scheme of amalgamation or reorganisationof a co-operative bank in certain cases.

18. Central Registrar to prepare scheme of amalgamation or reorganization of a co-operative bank in certain cases.-When an order of moratorium has been made by the Central Government under sub-section (2) of section 45 of the Banking Regulation Act, 1949 (10 of 1949) in respect of a co-operative bank, the Central Registrar, with the previous approval of the Reserve Bank in writing, may, during the period of moratorium, prepare a scheme- (a) for the amalgamation of the co-operative bank with any other co-operative bank; or (b) for the reorganisation of the co-operative bank.