Section 14 in Goa Co-operative Societies Rules, 2003
14. Amalgamation, transfer of assets and liabilities, division or conversion of societies.
(1)Every society, desiring to effect amalgamation, transfer of assets and liabilities, division or conversion, as the case may be, shall make an application to the Registrar in that behalf, giving full details of the Scheme of such amalgamation, transfer, division or conversion, as the case may be.(2)On receipt of such application, the Registrar may, after examining the details furnished in the application and other particulars which he may call upon the society to furnish, give his approval to the amalgamation, transfer, division or conversion, as the case may be, in the interest of the society.(3)After the receipt of the Registrar's approval under sub-rule (2), the society shall convene a special general meeting by giving notice of at least thirty clear days to all its members and creditors and pass a resolution for amalgamation, transfer of assets and liabilities, division or conversion, as the case may be, by two-third majority of the members present and voting at the meeting. The resolution so passed shall contain the purpose and the full Scheme indicating how the proposed amalgamation, transfer, division or conversion, as the case may be, would be useful to the society and be given effect to. Where the Scheme does not involve transfer of the liabilities of the society to another society, a statement to that effect shall be made in the application to be made under sub-rule (1). Where the Scheme involves transfer of liabilities of the society, the society shall give written notice in Form 'F' to all its members, creditors and other persons whose interests are likely to be affected by such transfer. The notice shall also be published in at least one newspaper in circulation in the district in which the society's office is situated and a copy, thereof shall be exhibited on the notice board in the society's office.(4)Within thirty days from the date of notice referred to in sub-rule (3), the members, creditors and other persons whose interests are likely to be affected by the transfer of liabilities of the society may exercise their option as required by clause (i) of sub-section (3) of section 15 of the Act, failing which, they shall be deemed to have assented to the transfer of liabilities of the society to another society.(5)The society shall meet in full or otherwise satisfy all claims of the members and creditors and other interested persons who exercise the option.(6)The society shall submit a report to the Registrar of the action taken by it and request him to give effect to its decision for amalgamation, transfer, division or conversion, as the case may be, by registering the amalgamated or converted society or the new society, as the case may be, and cancelling the registration of the societies which have been amalgamated, divided or converted, as the case may be.(7)On receipt of the report from the society under sub-rule (6), the Registrar shall, after satisfying himself that the procedure has been properly followed register the amalgamated, divided or converted societies and cancel the registration of the societies which have been amalgamated, divided or converted as the case may be.
