Section 16 in The Goa Co-operative Societies Act, 2001
16. Re-construction of societies.
- Where a proposal for a compromise or arrangement,-(a)between a society and its creditors, or(b)between a society and its members, is approved at a special general meeting called for the purpose, the Registrar may, on the application of the society or of any member or of any creditor of the society, or in the case of a society which is being wound up, of the liquidator, order re-construction of the society in the prescribed manner.
