(1) No court inferior to that of a magistrate first class shall try any offence under this Act.
(2) Notwithstanding anything contained in the Code of Criminal Procedure, 1898 (5 of 1898), every offence under this Act shall for the purposes of the said Code be deemed to be non-cognizable.
(3) No prosecution under this Act shall be instituted without the previous sanction of the Registrar and without a complaint in writing made by him or by any person authorised by him in this behalf.
1 [CHAPTER XIII-A] INSURED CO-OPERATIVE BANKS 97-A. Winding up order of insured banks.- Notwithstanding anything contained in this Act, in the case of any insured co-operative bank-
(i) an order for the winding up, or an order sanctioning a scheme of compromise or arrangement or of amalgamation or reconstruction (including division or re-organisation), of the bank may be made only with the previous sanction in writing of the Reserve Bank of India;
(ii) an order for the winding up of the bank shall be made by the Registrar if so required by the Reserve Bank of India in the circumstances referred to in section 13-D of the Deposit Insurance and Credit Guarantee Corporation Act, 1961 (47 of 1961);
(iii) if so required by the Reserve Bank of India in the public interest or for preventing the affairs of the bank being conducted in a manner detrimental to the interests of the depositors or for securing the proper management of the bank, an order shall be made for the supersession (removal) of the committee of management or other managing body (by whatever name called) of the bank and the appointment of an administrator therefor for such period or periods, not exceeding five years in the aggregate, as may from time to time be specified by the Reserve Bank of India, and the Administrator so appointed shall, after the expiry of his term of office, continue in office until the day immediately preceding the date of the first meeting of the new committee of such bank;
(iv) no appeal, revision or review shall lie or be permissible against an order such as is referred to in clauses (i), (ii) or (iii) made with the previous sanction in writing or on the
1. CHAPTER XIII-A added vide H. P. Act No. 13 of 1981.
THE HIMACHAL PRADESH CO-OPERATIVE SOCIETIES ACT, 1968 53 requisition of the Reserve Bank of India and such order or sanction shall not be liable to be called in question in any manner;
1 [(iv-a) If an order for supersession of committee of such bank, as per the requisition of Reserve Bank of India, is made or has been made under this section, then no member of such committee shall be eligible for being re-elected, reappointed, renominated or reco-opted on the committee of such bank or any other bank, for a period of ten years from the date of order of supersession of the committee.
(iv-b) Any person, who is a candidate for election to the member of managing committee of a co-operative bank, shall, while filing nomination paper, make a declaration to the effect that,-
(a) he has never been a member of the managing committee of a co-operative bank which has been superseded under the Act; or
(b) he has been a member of the managing committee of a co-operative bank which was earlier superseded under the Act and that a period of two terms of the committee has elapsed from the date of order of such supersession.]
(v) the liquidator or the insured co-operative bank or transferee bank, as the case may be, shall be under an obligation to repay the Deposit Insurance Corporation established under the Deposit Insurance and Credit Guarantee Corporation Act, 1961 (47 of 1961) in the circumstances, to the extent and in the manner referred to in section 21 of that Act.
Explanation.- For the purposes of this section,-
(i) “a co-operative bank” means a bank as has been defined in the Deposit Insurance and Credit Guarantee Corporation Act, 1961 (47 of 1961);
(ii) “insured co-operative bank” means a society which is an insured bank under the provisions of the Deposit Insurance and Credit Guarantee Corporation Act, 1961 (47 of 1961);
(iii) “transferee bank” in relation to an insured co-operative bank means a co-operative bank,-
(a) with which such insured co-operative bank is amalgamated, or
(b) to which the assets and liabilities of such insured cooperative bank are transferred, or
1. Clauses (vi-a) and (vi-b) inserted vide H.P. Act No. 9 of 2020.
THE HIMACHAL PRADESH CO-OPERATIVE SOCIETIES ACT, 1968 54
(c) into which such insured co-operative bank is divided or converted under the provisions of section 14].
CHAPTER XIV MISCELLANEOUS