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Union of India - Section
Section 5 in The Societies Registration Act, 1860
5. Property of society how vested.
- The property, movable and immovable, belonging to a society registered under this Act, if not vested in trustees, shall be deemed to be vested, for the time being, in the governing body of such society, and in all proceedings, civil and criminal, may be described as the property of the governing body of such society by their proper title.| UTTAR PRADESH.- After section 5 of the principal Act, the following section shall be inserted, namely :-"5A. Restriction on transfer of property.- (1) Notwithstanding anything contained in any law, contract or other instrument to the contrary, it shall not be lawful for the governing body of a society registered under this Act or any of its members to transfer, without the previous approval of the court, any immovable property belonging to any such society.(2) Every transfer made in contravention of sub-section (1) shall be void.Explanation I.- The word 'court' shall have the meaning assigned to it in section 13.Explanation II.- The expression 'transfer' shall for the purposes of this section mean-(a) a mortgage, charge, sale, gift, or exchange ;(b) lease for a term exceeding five years ; or(c) irrevocable licence."[U.P. Act No. 26 of 1979] |