(1) If the Registrar is satisfied
(a) that the application complies with the provisions of this Act and rules ;
(b) that the objects of the proposed Society are in accordance with section 4 ;
(c) that the aims of the proposed Society are not inconsistent with the principles of social justice ;
(d) that the proposed bye-laws are not contrary to the provisions of this Act and rules ; and
(e) that the proposed Society complies with the requirements of sound business and has reasonable chances of success ;
[the Registrar shall, within one month from the date of receipt of application, register the Society provisionally] for a maximum period of six months during which period the Society shall fulfil the following obligations in order to qualify for permanent registration :
(i) Capital building to the extent to be prescribed.
(ii) Membership mobilization/education to be prescribed
(iii) Development of projects, plans and schemes.
(2) Where the Registrar refuses to register a Co-operative Society, [he shall, within one month from the date of receipt of application, communicate] the order of refusal together with the reasons therefor, to such of the applicants as may be prescribed.