(3)After consideration of the objections or representations, if any, received from the society, if the Registrar is satisfied that the best offer for the assets, or assets and liabilities, in whole or in part, of the society, and the terms and conditions of the transfer thereof can be accepted, he may make an order under sub-section (5) of Section 12-A of the Act directing (1) that the Committee of the society concerned shall stand dissolved; and (2) that the assets or assets and liabilities, in whole or in part, of the society shall be transferred to the person submitting the best offer on fulfilment of the terms and conditions specified in the order. The order shall include the following terms and conditions:(i)The full purchase price shall be paid for the assets or assets and liabilities, in whole or in part, of the society; (ii) The transfer shall be effected by execution and registration of sale deed on behalf of the society; and (iii) The proceeds from the sale of assets shall be applied in the discharge of various liabilities of the society in the order of priority set out in sub-section (9) of Section 12-A of the Act.
