The property, movable and immovable, belonging to a society registered under this Act, if not vested in trustees, shall be deemed to be vested, for the time being, in the governing body of such society, and in all proceedings, civil and criminal, may be described as the property of the governing body of such society by their proper title.
STATE AMENDMENT
Uttarakhand.--
Insertion of section 5A.--In Principal Act after section 5 the following section shall be inserted, namely:--
"5A. Restriction on transfer of property.---(1) Notwithstanding anything contained in any law, contract or other instrument, it shall not be lawful for the governing body of a society registered under this Act or any of its members to transfer, without the previous approval of the court, any immovable property belonging to any such society.
(2) Every transfer made in contravention of sub-section (1) shall be void.
Explanation I.--For the purposes of this section the word court shall have the meaning assigned to it in section 13.
Explanation II.--For the purposes of this section the word transfer means--
(d) a mortgage, charge, sale, gift or exchange.
(e) lease for term exceeding five years; or
(f) irrevocable licence."
[Vide Uttarakhand Act 4 of 2019, s. 4]
Omission of section 5-A of Act no. 21 of 1860.--Section 5-A of the Societies Registration Act, 1860 shall be omitted.
[Vide Uttarakhand Act 23 of 2014, s. 2]