(1) On the application of a creditor of a society who,—
(a) satisfies the Registrar that there is a debt which is due, and that he has demanded payment thereof and has not received satisfaction within reasonable time;
and Inspection of books by Registrar or financing bank or federal society.
Suspension of officer or servant of society.
(b) deposits with the Registrar such sum as the Registrar may require as security for the costs of any inspection of the books of the society, the Registrar may, if he thinks it necessary or expedient, inspect or direct a person authorised by him by order in writing in this behalf to inspect the books of the society.
(2) The Registrar shall communicate the result of any such inspection to the applicant, and to the society whose books have been inspected.
(3) The Registrar may withdraw any inspection from the officer to whom it is entrusted, and to carry out the inspection himself or entrust it to any other person as he deems fit.