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Section 18: Central Registrar to prepare scheme of amalgamation or reorganisation of a co-operative bank in certain cases.

The Multi-State Co-operative Societies Act, 2002Central Act · Act 39 of 2002

When an order of moratorium has been made by the Central Government under sub-section (2) of section 45 of the Banking Regulation Act, 1949 (10 of 1949) in respect of a cooperative bank, the Central Registrar, with the previous approval of the Reserve Bank in writing, may, during the period of moratorium prepare a scheme--

(a) for the amalgamation of the co-operative bank with any other co-operative bank; or

(b) for the reorganisation of the co-operative bank.

Where this provision sits

ActThe Multi-State Co-operative Societies Act, 2002
Section18
Marginal noteCentral Registrar to prepare scheme of amalgamation or reorganisation of a co-operative bank in certain cases.
JurisdictionCentral
StatusIn force as published by the source

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