Section 17A in The M.P. Co-Operative Societies Act, 1960
17A. [ Action and liability of Banks under moratorium. [Inserted by M.P. Act No. 8 of 1970.]
- Where an order of moratorium has been made by the Central Government under sub-section (2) of Section 45 of the Banking Regulation Act, 1949 (No. 10 of 1949) in respect of Co-operative Bank, the Registrar with the previous approval of the Reserve Bank in writing, may, during the period of moratorium, prepare a scheme,-(i)for the reconstruction or re-organisation of the Co-operative Bank; or(ii)for the amalgamation of the Co-operative Bank with any other Bank.
