(1) Where the committee of a co-operative society is reconstituted [under the provisions of this Act ] or the committee of a cooperative society is removed by the State Government or the Registrar under section 30 or, the Chief Executive Officer of the society is changed under the rules, every outgoing member of the committee, if he is in charge of any of the records or property of the society, or the outgoing Chief Executive Officer of the society shall hand over charge of all the records and property of the society to the Chief Executive Officer, who shall be the overall trustee of all the records and property of the society:
[ Provided that in societies where there is no Chief Executive Officer, the Secretary of the society and if there is no Secretary also, then the Chairperson of the society shall be deemed to be the trustee of all the records and property of the society:]
[ Provided further that where the society is ordered to be wound up under section 61, the charge of the record and property of the society shall be handed over to the Liquidator, appointed under section 63.]
(2) If any such outgoing officer or member, refuses to hand over the charge of the record and property to the Chief Executive Officer 2 or the Secretary or the Chairperson or the Liquidator of the society as the case may be or, where the Registrar is satisfied that the books and records of a society are likely to be suppressed, tampered with, or destroyed, or the funds and property of a society are likely to be misappropriated or misapplied, the Chief Executive Officer [or the Secretary or the Chairperson or the Liquidator of the society] as the case may be or the Registrar or a person authorized by the Registrar may apply to the Judicial magistrate of the First Class, within whose jurisdiction the society is functioning, for searching, seizing and taking possession of `the records and property of the society.
(3) On receipt of an application under sub-section (1), the Magistrate may, by a warrant, authorise any police officer, not below the rank of a Sub-Inspector, to enter the likely places, where the records and the property are kept or are believed to be kept, and to search and to seize such records and property; and the records and property so seized shall be handed over to the Chief Executive Officer or the [ Secretary or the Chairperson or the Liquidator of the society] or the Registrar, or the person authorised by the Registrar, as, the case may be.