(1) If the Registrar, on receipt of an application made upon a resolution adopted in a meeting of the General Assembly by a three - fourth majority of the members present at the meeting provided that the notice of dissolution was included in the circulated agenda of the meeting, is of opinion that the co-operative society ought to be dissolved, he may by an order in writing cancel the registration of the co-operative society.
(2) The Registrar, after an inquiry has been held under section 61 or after an inspection has been made under section 62, may cancel the registration of a co-operative society which-
(i) has not commenced working; or
(ii) has ceased working; or
(iii) has ceased to comply materially with any condition as to registration in this Act, rules or byelaws; and
(iv) in his opinion ought to be dissolved.
(3) A copy of the order cancelling the registration of a cooperative society shall forthwith be published in Official Gazette by a notice which shall be communicated to the Cooperative Society and to any affiliating co-operative society concerned by registered post. The notice shall contain the name of the liquidator appointed under section 67(1), who shall take full charge of the co-operative society forthwith and shall require all claims against the said cooperative society to be made to the liquidator within two months of publication of the notice. All liabilities recorded in the account books of the co-operative society shall be deemed ipso facto to have been so claimed.
(4) When the cancellation of the registration of co-operative society takes effect, the co-operative society shall cease to exist as a corporate body, but shall vest in the liquidator.
(5) Any member of the co-operative society may, within two months from the date of publication of the order of cancellation, appeal to the State Government against such order.
(6) When no appeal is presented within two months from the publication of an order cancelling the registration of the cooperative society, the order shall take effect on the expiry of that period.
(7) When an appeal is presented within two months of an order of cancellation, the order shall not take effect until it is confirmed by the State Government and such confirmation is communicated to the co-operative society by registered post.