Sub. by Act 11 of 2023, s. 45, for " the Companies Act, 1956 " and " the Monopoly and Restrictive Trade Pract… — AMENDING ACT

Sub. by Act 11 of 2023, s. 45, for " the Companies Act, 1956 " and " the Monopoly and Restrictive Trade Practices Act, 1969 " (w.e.f. 3-8-2023).

1. Sub. by Act 11 of 2023, s. 45, for " the Companies Act, 1956 " and " the Monopoly and Restrictive Trade Practices Act, 1969 " (w.e.f. 3-8-2023). the bye-laws 1 [or has committed any act including fraud, misappropriation and the like which is prejudicial to the interests of the society or its members, or has omitted or failed to comply with any directions given to it under section 122 in public interest or that there is a stalemate in the constitution or functions of the board or the Co -operative Election Authority has failed to conduct elections in accordance with the provisions of this Act, the Central Government may, after giving the board an opportunity to state its objections, if any, and considering the objections, if received, by order in writing, supersede or suspend the board and appoint one or more administrators, who need not be members of the society, to manage the affairs of the society for such period not exceeding six months, as may be specified in the order:]

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