Central Registrar to prepare scheme of amalgamation or reorganisation of a co-operative bank in certain cases… — AMENDING ACT

Central Registrar to prepare scheme of amalgamation or reorganisation of a co-operative bank in certain cases . —W —When an order of moratorium has been made by the Central Government under sub -section (2) of section 45 of the Banking Regulation Act, 1949 (10 of 1949) in respect of a co-operative bank, the Central Registrar, with the previous approval of the Reserve Bank in writing, may, during the period of moratorium , prepare a scheme—

18. Central Registrar to prepare scheme of amalgamation or reorganisation of a co-operative bank in certain cases . —W —When an order of moratorium has been made by the Central Government under sub -section (2) of section 45 of the Banking Regulation Act, 1949 (10 of 1949) in respect of a co-operative bank, the Central Registrar, with the previous approval of the Reserve Bank in writing, may, during the period of moratorium , prepare a scheme— (a) for the amalgamation of the co-operative bank with any other co-operative bank; or (b) for the reorganisation of the co-operative bank.

Section 18