(1) Every society desiring to effect transfer assets and liabilities, division or amalgamation under section 12 shall frame a scheme of transfer of assets and liabilities, division or amalgamation indicating how the proposed transfer of assets and liabilities, division or amalgamation would be useful to the society and be given effect to. Where the scheme involves a division of a society into two or more societies, it shall contain proposals regarding the name, the area of operation, draft bye-laws and the list of members and creditors of the new societies into which the society would be divided.
1 Inserted by G.S.R. 53 dated 10.7.2017, published in Raj. Gazette E. O. part 4 (x)(I) dated 10.7.2017, come into force at once.
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(2) After framing the scheme of amalgamation or division or transfer of assets and liabilities under sub-rule (1), the society shall first inform the Registrar and then convene a special general meeting by giving a written notice of atleast fifteen days to all of its members alongwith the proposed scheme of transfer of assets and liabilities, division or amalgamation. In the case of the society desiring amalgamation with or transfer of the assets and liabilities in whole or in part to any other society (here-in-after referred to as the other society), the society shall send a copy of the notice and the proposed scheme to the other society also for information. The society shall pass a special resolution for transfer of assets and liabilities, division or amalgamation as the case may be, at the special general meeting and shall in the case of the amalgamation or transfer of assets and liabilities forward a copy of such special resolution to the other society.
(3) After the receipt of the special resolution under sub-rule (2), the other society shall convene a special general meeting by giving a written notice of atleast fifteen days to the Registrar and to all its members and creditors alongwith the scheme of amalgamation or transfer of assets and liabilities and draft amendment to its bye-laws, if any, and pass a special resolution at the general meeting for approving the scheme of amalgamation or transfer of assets and liabilities, as the case may be, and the amendment to its bye-laws, if any, and send a copy of such special resolution to the society which had earlier decided to amalgamate or transfer its assets and liabilities.
(4) The affected society or each of the affected societies, as the case may be, shall, in the case of amalgamation or transfer of assets and liabilities, after the conveyance of the approval under sub-rule (3) and in 19 the case of division, after passing of the special resolution under sub-rule
(2) forward the proposals to the Registrar :
Provided that where such proposals involve an amendment of the bye-laws, the procedure specified in rule 11 shall be followed.
(5) After approval of the proposals by the Registrar, the affected society or each of the affected societies, as the case may be, shall take action under sub-section (4) to (6) of section 12.
(6) The affected society or each of the affected societies, as the case may be, shall forward a report to the Registrar of the action taken by it under sub-rule (5) and request him to approve the decision for transfer of assets and liabilities, division or amalgamation.
(7) The Registrar shall, after satisfying himself that the procedure has been followed pass an order transferring the assets and liabilities and register the amalgamated or divided society or societies and cancel the registration of societies which have been amalgamated or divided.
(8) Provisions of sub rule (4) to (8) of rule 5 shall mutatismutandis apply for action to be taken by the Registrar Co-operative Societies, Rajasthan or the Government, as the case may be, under subsection (3) of section 12.