Sri Lanka Consolidated Acts

[Index] [Table] [Database Search] [Name Search] [Previous] [Next] [Help]

Co-operative Societies (Amendment) Act (No. 32 of 1983) - Sect 9

Amendment of section 48 of the principal enactment. [9,32 of 1983]

9. Section 48 of the principal enactment is hereby amended as follows:-
(i) by the repeal of subsection (1) thereof, and the substitution therefor, of the following subsection:-
"(1) If the Registrar is of the opinion after an inquiry under section 46, or an inspection or investigation under section 47, that the committee of any registered society is not performing its duties in a proper manner, he may, after giving the committee an opportunity to state its objections, if any, to its dissolution, and after considering such objections at a general meeting of the society summoned by him, by order in writing"
(a) dissolve the committee ; and
(b) direct that the affairs of the society shall be managed and administered by a suitable person or persons appointed as hereinafter provided. ";
(ii) by the repeal of paragraph (b) of subsection (4) thereof, and the substitution therefor, of the following paragraph:-
"(b) shall have and may exercise all the powers, rights and privileges of the duly constituted committee of the society and where it becomes necessary to do so in the interest of the efficient management of the affairs of such society, such of the powers of the general body as are necessary in such interest, to the exclusion of such general body. "; and
(iii) by the insertion immediately after subsection (9) thereof, of the following new subsection :"
"(10) Before the completion of an inquiry under section 46 or an inspection or investigation under section 47, if the Registrar is of opinion that a prima facie case has been established against the committee, the Registrar shall have the power to suspend such committee for a period of six months and appoint an interim board to manage and administer the affairs of a society. The Registrar shall complete such inquiry or investigation within six months from the date of suspension of such committee and take a final decision regarding the dissolution of such committee under subsection (1). ".


[Index] [Table] [Database Search] [Name Search] [Previous] [Next] [Help]