Section 16(5) in Jammu and Kashmir Co-Operative Societies Act, 1989
(5)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, in respect of a 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 of the Co-operative Bank, or(ii)for the amalgamation of the Co-operative Bank with any other Co-operative Bank hereinafter referred to as "the Transferee Bank".
