(1) The Registrar may of his own motion and shall on the application of a creditor of a cooperative society, inspect or direct any person authorised by him by order in writing to inspect the books of the society and the Registrar or the person so authorised shall have all the powers of the Registrar when holding an inquiry/ inspection under section 67 :
Provided that no such inspection shall be made on an application of a creditor under sub-section (1) unless the creditor—
(a) satisfies the Registrar that the debt or deposit is a sum then due and that he has demanded payment or return thereof and has received satisfaction within a reasonable time ; and
(b) deposits with the Registrar such sum as security for the cost of the proposed inspection as the Registrar may require.
(2) The Registrar shall communicate the result of any such inspection,—
(a) where the inspection is made of his own motion to the society ; and
(b) where the inspection is made on the application of a creditor, to creditors including the Financing Bank, to which the society is indebted and the society.
(3) A Financing Bank may cause the books of a co-operative society affiliated to it to be inspected by an officer of such Bank or by a member of its paid staff, authorised by the Registrar, by order in writing in this behalf. The officer or member so inspecting shall at all reasonable times have free access to books, accounts, documents, securities, cash and other properties belonging to, or in the custody of, the society and may also call for such information, statements and returns as may be necessary to ascertain the financial condition of the society.