In an arbitration Section 85 proceeding, the Registrar or the arbitrator, as the case may be, shall communicate (2) (xviii) the date, time, and place of hearing the dispute to all the parties concerned.
54. Power to appoint guardian for minors etc-The Registrar or the Section 85 arbitrator, as the case may be, shall have power to appoint or remove a ( 2 ) ( x v i i i ) guardian for the party to the dispute who is a minor or who, by reasons of unsoundness of mind or mental infirmity, is incapable of protecting his interest.
55. Hearing of Disputes-The Registrar or the arbitrator, as the case Section 85 may be, shall hear the parties and witnesses who attend. On the basis (2) (xviii) of such evidence and after consideration of any documentary evidence that may be produced by either party, he shall give a decision or award, as the case may be, in accordance with justice, equity and good conscience. The decision or award shall be reduced to writing, announced to the parties and filed the office of the Registrar. In the absence of any party duly summoned to attend, the dispute may be decided exparte.
56. Cost of arbitration-The arbitrator or the Registrar, as the case Section 85 may be, shall have the power to order the expenses of determining a dispute (2) (xviii) the costs of either party to be borne by such party or parties to the dispute as he may think fit.
57. Maintenance of record arbitration-(1) The record of arbitration Section 85 proceedings shall be kept in such place and in such manner as the Registrar (2) (xviii) may direct.
(2) A copy of the decision or award shall on application be given to a party by the Registrar on payment of such fees as are laid down in rule 78 of these rules.
CHAPTER VIII WINDING UP AND CANCELLATION
58. rocedures to be followed by liquidators- The iquidator hall Section 59 as soon as the order of winding up of the co-operative society takes effect (1) and 85(2) publish by such means as he may think proper, a notice requiring all claims against the co-operative society, the winding up of which has been ordered to be submitted to him within one month of the publication of the notice, all liabilities record in the account books of a co-operative society shall be deemed ipso factor to have been duly submitted to him under this sub-rule.
(2) The liquidator shall, after setting the assets and liabilities of the Co-operative society as they stood on the date on which the order for winding Is made, proceed next to determine the contribution to be made by each of its members, past member or by the estates or nominees, heirs or legal representatives of deceased members or by any officers or former officers to the assets of the society under clauses (b) and (e) of sub-section (2) of section
59. should necessity arise, he may make a subsidiary order regarding such contributions and such order shall be enforceable in the same manner as the original order.
(3) The liquidator may, at any time, call a meeting of the members or of the creditors or a joint meeting of the members and creditors and such meeting shall be called, held and conducted at such time and place and in such manner as the liquidator may deem fit.
59. Approval by Registrar of orders of liquidator-An order passed by Section 59 the liquidator under clause (b) of sub-section (2) of section 59 shall be submitted (1) and 85(2) by him to the Registrar for approval. The Registrar may modify such order (xxvi) or refer it back to the liquidator for further enquiry or action.
Section 59
(1) and 85(2)
(xxvi)
60. Submission of quarterly report by liquidator-The liquidator shall submit to the registrar a quarterly report in such form s the Registrar may specify showing the progress made in the liquidation of the co-operative society.
Section 59
(1) and 85(2)
(xxvi)
61. Deposit of funds by liquidators-All funds in charge of the liquidator shall be deposited with such institution or person as the Registrar may approve.
Section 59
(1) and 85(2)
(xxvi)
62. Expenses incurred by liquidator-All expenses incurred in connection with the winding up of the co-operative society shall be subject to the approval of the Registrar.
Section 59
(1) and 85(2)
(xxvi)
63. Distribution of assets-The liquidator shall distribute the realised assets in such priority as the Registrar may direct.
Section 59
(1) and 85(2)
(xxvi)
64. Remuneration to liquidators-The remuneration fixed under section 58 (1) shall be included in the cost of liquidation which shall be payable out of the assets of the co-operative society in priority to all other claims.
Section 59
(k)