(1) If the Registrar is satisfied-
(a) That the application complies with the provisions of this Act and the rules;
(b) That the objects of the proposed society are in accordance with section 4;
(c) That the proposed bye-laws are not inconsistent with the provisions of this Act and the rules; and
(d) That the proposed society complies with the requirements of rules in regard to the existence of any conditions in general or for the class of societies to which the particular society belongs and with the requirements of sound business and has reasonable chances of success;
the Registrar shall register the society and its bye-law :
Provided that where the bye-laws accompanying the application for registration are such as have, after the enforcement of this Act, already been approved by the Registrar or the type or class of co-operative societies to which the proposed society belongs, the Registrar shall pass final orders thereon either registering the society or refusing its registration within three months from the date of the receipt of the application by him and if he fails to do so the applicants may make a representation to the authority competent to hear under section 98 appeals against Registrar's order of refusal to register a society and if such authority, after calling for a report from the Registrar, passes an order for registration of society, the society, shall be deemed to have been duly registered from the date of communication of such order to the Registrar.
(2) Where the Registrar refuses to register a society, he shall communicate the order of refusal together with the reasons therefor to such applicant as has been named in the application for this purpose and in default of such naming to any one of the applicants.