Section 69A(4) in The Meghalaya Co-operative Societies Act, 2015
(4)If so required by the Reserve Bank of India in the public interest or for preventing the affairs of the bank being conducted in a manner detrimental to the interest of the depositors or for securing the proper management of the bank, an order shall be made by the Registrar in consultation with the Reserve Bank of India for the suppression (removal) of the Committee Board and the appointment of an Executive Officer therefor, for such period or periods not exceeding three years in the aggregate as may from time to time be specified by the Registrar of Co-operative Societies after consultation with the Reserve Bank of India, and the Executive Officer so appointed shall, after the expiry of his term of office, continue in office until the day immediately preceding the date of the first meeting of the new Committee.
