1 [(1) On receipt of an application for registration of a co-operative society, the Registrar shall enter the particulars of the application in the Register of the applications to be maintained either manually or electronically, and give a serial number to the application and thereafter shall register the society and its bye-laws if-
(a) the aims of the proposed society are not contrary to the provisions of this Act and the rules made thereunder; and
(b) the aims of the proposed society are not inconsistent with the principles of the social justice, as may be prescribed.]
(2) The application for registration shall be disposed of by the Registrar within a period of ninety days from the date of receipt thereof by him.
(3) If the Registrar fails to dispose of the application within the period specified in sub-section (2), the applicant society shall be deemed to have been registered.
(4) When the Registrar refuses to register a society, he shall communicate the order of refusal, together with the reasons therefor to such of the applicants as may be prescribed.