(1) The Registrar may, and if the rules in any case so prescribe, shall, by an order in writing, direct that a co-operative society shall be wound up, if-
(a) after an inspection has been made under section 65 or section 66 or any inquiry has been held under section 67; or
(b) on an application made upon a resolution carried by threefourth of the members of the society present at a special general meeting called for the purpose; or
(c) on his own motion in the case of a society which-
(i) has not commenced working; or
(ii) has ceased working; or
(iii) has share capital and members deposits not exceeding rupees one thousand; or
(iv) has ceased to comply with any condition as to registration in this Act or in the rules or bye-laws;
he is of the opinion that society ought to be wound up.
(2) A copy of such order shall be communicated in the prescribed manner to the society and to the financing bank, if any, of which the society is a member.
THE HIMACHAL PRADESH CO-OPERATIVE SOCIETIES ACT, 1968 43
(3) The order shall take effect-
(a) where no appeal is preferred under section 93 on the expiry of the time allowed for preferring an appeal; or
(b) where an appeal is preferred, upon the rejection of the appeal by the appellate authority.