Liquidator appointed under section 40 shall adopt following procedure namely:—
(a) The liquidator shall publish by such means, he may think proper, a notice requiring all c ' against the society to be submitted to him wi two months of the publication of such notice.
liabilities recorded in the accounts books of society shall be deemed “ipso facto” to have duly submitted to him under this clause.
(b) The liquidator shall, after settling the assets _ liabilities of the society as they stood on the H. 35I THE T.Nr SOCIETIES REGISTRATION RULES, 1978 105 on which the order under section 40 for its Wmdmg up was made, proceed next to determine the contributions to be made by each of its members, past members, or by the estates of nominees, heirs or legal representatives of deceased members or by any officers or former officers to the assets of the society.
(c) The Liquidator shall submit to the Registrar a quarterly report in such forms as the Registrar may specify showing the progress made in the wmdlng up of the society.
(d) The Liquidator may empower any person b general or special order in writing to makl;
collections and to rant 1‘ ' ' behalf;
g va 1d receipts on his
(e) All funds in the charge ofthe liquidator shall be depomted in the Government treasury or in the post office savings bank or in a Nationalised Banlf including the State Bank of India and its Eubs'idiary banks as may be approved by the 113333;:and shall stand 1n the name of the
(f) The Registrar shall specify the estimated amount of cost of winding up including remuneration for the Liquidator and such other items of expenditure as are incidental to the winding up and such estimated amount shall first be included in the; cplst ofwinding up which shall be payable 3:111; ct1asienaliisets of the soc1ety in priority to all
(g) The Liquidator may call for the meetings of members of the society from time to time.
(h) A Liquidator may, at any time, be removed by the Registrar and he shall, on such removal, be bound LAW AND ADMINISTRATION OF SOCIETIES [R 38 to hand over all the property and documents relating to the Society ordered to be wound up to such person as the Registrar may direct.
All the books and records of a society whose registration has been cancelled and the proceedings of liquidation may be destroyed by the Registrar after the expiry of five years from the completion or conclusion of the liquidation.