Section 14A in Himachal Pradesh Co-Operative Societies Act, 1968
14A. [ Power to direct amalgamation, conversion and reorganisation of societies. [Added by H. P. Ord. No. 4 of 1975, Sec. 3 (replaced by H. P. Act No. 7 of 1976).] - (1) Where the Registrar is satisfied that it is essential or desirable in the public interest or in the interest of Co-operative movement or for the purpose of securing the proper management of any society or societies, that two or more societies should be amalgamated or should be re-organized or should be converted into any other class of society or that any society or societies should transfer assets and liabilities thereof in whole or in part in equal proportion to the total assets and liabilities, to any other society, then notwithstanding anything contained in the last preceding section but subject to the provisions of this section, the Registrar may order such amalgamation or re-organization or conversion or transfer of assets and liabilities of such society or societies, as the case may be, and with such constitution, property, rights, interests, liabilities, duties and obligations as may be specified in the order.
(2)No order shall be made under this section unless the Registrar, after inviting the suggestions and objections in writing from the concerned society or societies or members or creditors thereof and also the concerned financing Bank or Banks, has considered and made such modifications in the proposed order as may seem to him desirable in the light of such suggestions and objections, which may be received by him within sixty days from the date of inviting such suggestions and objections.(3)The order referred to in sub-section (1) may contain such incidental, consequential and supplemental provisions as may, in the opinion of the Registrar, be necessary to give effect to the amalgamation or the reorganisation or the conversion or the transfer of assets and liabilities, as the case may be.(4)Every member or creditor of such of the societies to be amalgamated or re-organized or converted or whose assets and liabilities are to be transferred who has objected to the scheme of such an amalgamation or re-organization or conversion or transfer of assets and liabilities under subsection (2) of this section and his objection remains unsatisfied, within the period specified in the order, shall be entitled to receive his share or interest or deposit or loan or other dues, as the case may be.(5)On the issue of an order under sub-section (1) the provisions contained in sub-section (7) of section 14 shall apply to the societies so amalgamated or re-organized as if such an amalgamation or re-organization was made under that section.]
