(1) If,-
(a) in the opinion of the Registrar, the records (including registers and books of account) of a co-operative society are likely to be tampered with or destroyed or the fuhds or other property of a cooperative society are likely to be misappropriated or misapplied; or
(b) the committee of a co-operative society is reconstituted at a general meeting of the society; or
(c) the committee of a co-operative society is removed by the Registrar under section 27; or
(d) a co-operative society is ordered to be wound up under section 57 and the outgoing members of the committee thereof refuse to hand over charge of the records and property of the society to those having, or entitled to receive, such charge, the Registrar may apply to the Magistrate within whose jurisdiction the society functions for securing such records and property of the society.
(2) On receipt of an application under sub-section ( I ) , the Magistrate may, by a warrant, authorise any police officer, not below the rank of a sub-inspector to enter and search any place where such records and property are kept or are believed to be kept and to seize such records and property; and the records a,nd p r n p ~ r t y so seizcd shall L e handed over to the new culrlrnittee or administrator of the society or the liquidator, as the case may be.
29. No act of a co-operative society or of any committee or anv officer of the society shall be deemed to be invalid by reasoh only of the exisfence of any defect in procedure or in the constitution of the society or of the committee 3r in the appointment or election of an officer or on the ground that such officer was disqualified for his office.
CHAPTER V
30. The registration of a co-operative society shall render it a body corp r a t e by the name under which it is registered having perpetual succession and a common seal, and with power to hold property, enter into con- * tract, institute and defend suits and other legal proceedings and to do all things necessary for the purposes for which it is constituted.