Section 5(3) in The Karnataka Souharda Sahakari Act, 1997
(3)The Registrar shall, if he is satisfied that,-(a)the application is in conformity with the provisions of this Act and rules;(aa)[ the proposed Co-operative complies with the requirements of sound business and has reasonable chances of success,] [Inserted by Act 21 of 2004 w.e.f. 31.3.2004.](b)the proposed bye-laws are in conformity with section 10; and(c)the name of the proposed Co-operative is not the same as that of a Co-operative already registered under this Act or is not the same as that used by a Co-operative society already registered under section 7 of the Karnataka Co-operative Societies Act, 1959,register the Co-operative and also its bye-laws and send by registered post a certificate of registration and the original registered bye-laws signed and sealed by him to the Chief Promoter mentioned in the application or to the Co-operative society within a period of ninety days from the date of receipt of application. A copy of such certificate of registration along with the copy of the bye-laws shall also be sent to the Federal Co-operative.[Provided that in the case of [a proposed] [Inserted by Act 21 of 2004 w.e.f. 31.3.2004.] Co-operative Bank, the registration in terms of this section shall take place only with the prior approval of the Reserve Bank.] [Inserted by Act 21 of 2004 w.e.f. 31.3.2004.]
