Section 13 in The M.P. Swayatta Sahakarita Adhiniyam, 1999
13. Amalgamation of co-operatives.
(1)Any two or more co-operatives may, by special resolutions, decide to amalgamate themselves and form a new co-operative.(2)Where special resolutions are passed under sub-section (1), each co-operative shall give notice thereof together with a copy of the resolution passed by it to all its members and creditor and any member other than those who voted in favour of the proposed amalgamation. Any creditor shall, during a period of thirty days from the date of service of notice upon him, have the option of withdrawing his shares, deposits or loans from the co-operative, as the case may be, subject to the discharge of his obligations to the co-operative concerned.(3)Any member or creditor who fails to exercise the option within the period specified in sub-section (2) shall be deemed to have assented to the amalgamation.(4)The special resolutions passed under sub-section (1) shall not take effect until :-(a)all claims of the members and creditors of each co-operative who have exercised the option under sub-section (2) have been met in full or otherwise satisfied;(b)information of the intended amalgamation and settlement of claims of members and creditors is sent to the Registrar and his acknowledgment is obtained; and(c)the certificate of registration and the original bye-laws of the co-operative which is formed as a result of amalgamation, signed and sealed by the Registrar, is issued under sub-section (6) of Section 4.(5)When two or more co-operatives amalgamate themselves into a new co-operative under this section, the registration of the co operatives so amalgamated, shall stand cancelled and they shall be deemed to have been dissolved and shall cease to exist at corporate bodies, and the Registrar shall delete the names of the co-operative so amalgamated from the register of co-operatives.(6)When two or more co-operatives amalgamate themselves into a new co-operative under this section, all the members of the co-operatives who have assented or deemed to have assented to the amalgamation shall be deemed to have become members of the new co-operative notwithstanding anything contained in this Act.
