Section 4 in Uttarakhand Self Reliant Co-Operatives Act, 2003
4. Conversion of a co-operative society under this Act.
(1)Notwithstanding anything in the Uttarakhand cooperative Societies Act, 2003, a co-operative society registered under the Co-operative Societies Act, 2003, may opt for registration under this Act through a special resolution of the general body :Provided that where the cooperative society is in receipt of share capital from the government, it shall undertake, in writing, to retire such share capital within 5 years from the date of registration, at the rate of not less that 15% per annum, of the total equity of the government on the date of conversion.(2)The registration of such society shall be made in accordance with the provisions of this Act, and where within seventy five days of submission of the Memorandum for registration as specified in schedule D, the person specified in the Memorandum receives neither the certificate of registration as specified in schedule E nor the order of refusal, the promoters may move the appropriate Court of Law.
