(1) (a) If, in the opinion of the Registrar, the committee of any registered society is not functioning pioperly, he may, after giving an opportunity to the committee to state its objections, if any, by order in writing, dissolve the committee end appoint a suitable person or persons to manage the affairs of the society for a specified period not exceeding two years.
(b) The period specified in such order may, at the discretion of the Registrar, be extended from time to time; provided that such order shall not remain in force for more than four years in the aggregate.
(2) The person or persons so appointed shall, subject to the control of the Registrar and to such instructions as he may from time to time give, have power to exercise all or any of the functions of the committee or of any officer of the society, and to take all such action as may be required in the interests of the society.
(3) The Registrar may fix the remuneration payable to the person or persons so appointed; and the amount of such remuneration and other costs, if any, incurred in the management of the society, shall be payable from its funds.
(4) The person or persons so appointed shall, at the expiry of the period of his or their appointment, take steps for the constitution of a new committee in accordance with the by-laws of the society.
(5) Before taking any action under sub-section (1) in respect of a financing bank or in respect of a society indebted to a financing bank, the Registrar shall consult in the former case such bank whether in or outside the Islands as may be specified in this behalf by the Administrator, and in the latter case the financing bank concerned, regarding euch action.
SEC. 1] THE GAZETTE OF INDIA EXTRAOEDINARY 655
(6) Nothing in this section shall be deemed to affect the power of the Registrar to cancel the registration of the society under section 35.
CHAPTER VIII DISSOLUTION OF SOCIETY