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Multi-State Cooperative Societies Act, 1984

15. Central Registrar to prepare scheme of amalgamation or reorganisation of cooperative bank in certain cases.-

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 in respect of a cooperative 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 cooperative bank with any other cooperative bank; or

b.     for the reorganisation of the cooperative bank.

Multi-State Cooperative Societies Act, 1984 Back

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