Section 92 in The Delhi Co-operative Societies Rules, 2007
92. Restriction on transfer of share or interest of a member.
(1)Subject to the provision of section 79 and 91 a person after allotment of flat or plot as per section 77 may transfer share or interest therein by registered agreement for sale or registered sale deed, as the case may be, provided that the transfer of share or interest in respect of leasehold properties shall be governed by the terms of the lease.(2)If such a person desiring to transfer his share or interest of a co-operative housing society, he shall give fifteen days notice of his intension to the co-operative housing society in the Form - 18. On receipt of such notice the committee of the co-operative housing society shall give consent to the transferer to transfer his share or interest in Form - 19 within 15 days time failing which the consent is deemed to have been granted. If the purchaser having registered agreement for sale or registered sale deed, or registered power of attorney as the case may be, in respect of such plot or flat may apply for transfer of share and interest in Form - 20 and alongwith an affidavit in Form - 21 alongwith transfer fee by pay order or demand draft as per section 91 of the Act to the common good fund of such co-operative housing society and requisite share money and admission fee as per the provisions of the bye-laws of the society.(3)No other amount towards donation or contribution on any other pretext or name shall be collected by the committee from the transferor or the transferee.(4)On receipt of application for membership under sub rule(2), the committee shall consider and examine it as to whether the person is prima facie eligible to become member of the cooperative housing society under the provisions of the Act, Rules and bye laws of the co-operative housing society.(5)If any clarification is required, the committee shall inform such person about deficiency found in the form within fifteen days of the receipt of the application form.(6)The transferee shall submit the following documents alongwith application form for satisfaction of the committee:(a)Affidavit on a stamp paper of Rs. 10/- for discharging all the liabilities to the cooperative society in respect of the flat/plot or common areas which may be outstanding against the allottee or occupant of the flat or plot within a period of ninety days of raising the demand by the society(b)Attested copy of duly registered sale deed, agreement to sell and conveyance deed; as the case may be.(c)Original share certificate issued to the allottee and in case the original share certificate is not available, the transferee shall execute an indemnity bond to indemnify the society for any losses caused on this account.(d)Receipt of transfer fee of five hundred rupees for the Common Good Fund of the co-operative housing society;(7)On the receipt of the document mention in sub rule(6) committee shall transfer the membership to the transferee within thirty days.(8)In case the committee fails to take a decision within prescribed time or rejects the application the applicant may file an appeal before the Registrar, who shall decide it within ninety days time.(9)The applicant shall be allotted a new memberships number by recording the membership number of the original member and the same shall be recorded in the Membership Register.(10)The share money of the original member or the transferor as the case may be who has sold the flat or plot shall be forfeited and transferred to the common Good Fund of the society.
