Section 14 in The Punjab Co-operative Societies Act, 1961
14. Cancellation of registration certificate of co-operative societies in certain cases.
(1)Where the whole of the assets and liabilities of a co- operative society are transferred to another co-operative society in accordance with the provisions of Section 13, the registration of the first mentioned co-operative society shall stand cancelled and the society shall be deemed to have been dissolved and shall cease to exist as a corporate body.[(1-A) Where one or more co-operative societies are amalgamated with any other co-operative society by an order under sub-section (8) of Section 13, the registration of the co- operative society or co-operative societies, as the case may be, so amalgamated shall stand cancelled and the society or societies whose registration stands so cancelled shall be deemed to have been dissolved and shall cease to exist as a corporate body on the date of the aforesaid order and the members thereof shall become the members of the other co-operative society.] [Inserted by Punjab Act No. 8 of 1978 Section 3.](2)Where two or more co-operative societies are amalgamated into a new co- operative society in accordance with provisions of section 13, the registration of each of the amalgamating societies shall stand cancelled on the registration of the new society, and each society shall be deemed to have been dissolved and shall cease to exist as a corporate body.(3)Where a co-operative society divides itself into two or more co-operative societies in accordance with the provisions of section 13, the registration of that society shall stand cancelled on the registration of the new societies, and that society shall be deemed to have been dissolved and shall cease to exist as a corporate body.(4)The amalgamation and splitting of co-operative societies shall not in any manner whatsoever affect any right or obligation of the resulting co-operative society or societies or render defective any legal proceedings by or against the co-operative society or societies, and any legal proceedings that might have been continued or commenced by or against the co-operative society or the societies as the case may be, before the amalgamation or splitting, may be continued or commenced by or against the resulting co-operative society or societies.
