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[Cites 0, Cited by 0] [Section 56] [Entire Act]

State of Rajasthan - Subsection

Section 56(5) in Rajasthan Co-operative Societies Rules, 2003

(5)The provision of sub-rule (4) shall not apply -
(a)to immovable property purchased -
(i)by a society at a sale held in execution of a decree obtained by it, for the recovery of any sum due to it; or
(ii)by a financing bank at a sale held in execution of a decree obtained by a society financed by it, for the recovery of any sum due to such society or at a sale brought by the liquidator or such society; or
(b)to the purchase or lease of lands or purchase, construction or renewal of buildings by a society whose objects according to its bye-laws include such purchase, lease construction or renewal.