Section 18 in The Multi-State Co-Operative Societies Act, 2002
18. Central Registrar to prepare scheme of amalgamation or reorganisation of a co-operative bank in certain cases.—
When an order of moratorium has been made by the Central Government under sub-section (2) of section 45 of the Banking Regulation Act, 1949 (10 of 1949) in respect of a co-operative bank, the Central Registrar, with the previous approval of the Reserve Bank in writing, may, during the period of moratorium, prepare a scheme—(a)for the amalgamation of the co-operative bank with any other co-operative bank; or(b)for the reorganisation of the co-operative bank.
