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18. Central Registrar to prepare scheme of amalgamation or reorganisation of aco-operative 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 (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.

Multi-State Co-operative Societies Act, 2002 Back

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