(1) If the Registrar, after an inquiry held under section 50, or an inspection made under section 51, or on receipt of an application made by not less than three-fourth of the members of a cooperative society, is of opinion that the society ought to be wound up, he may after giving the society an opportunity of making its representation, by order, direct it to be wound up.
(2) The Registrar may of his own motion make an order directing the winding up of a co-operative society-
(a) where it is a condition of the registration of a society that the society shall consist of at least ten members and the number of members has been reduced to less than ten; or
(b) where the society has not commenced working or has ceased to function in accordance with co-operative principles.
(3) The Registrar may cancel an order for the winding up of a co-operative society, at any time, in any case where, in his opinion, the society should continue to exist.
(4) A copy of such order shall be communicated by registered post to the society and to the credit agency, if any, of which the society is a member,
(5) Where an appeal against an order for the winding up of a co-operative society is not presented within the period specified under sub-section (2) of section 68, the order shall take effect on the expiry of that period.
(6) Where an appeal against an order for the winding up of a co-operative society is presented within the period specified under sub-section (2) of section 68, the order shall not take effect until it is confirmed by the Chief Commissioner and such confirmation is communicated to the society.
ANDAMAN & NICOBAR GAZETTTE, EXTRAORDINARY, MAY 13, 1973 26 Registrar of Co-operative Societies, Co-operative Department, A&N Islands, VIP Road, Junglighat, Port Blair, PIN-744103 (Contact No.03192232388), 2019.