Section 58(2) in The Punjab Co-operative Societies Act, 1961
(2)A liquidator shall, on appointment, take into his custody or under his control the property, effects and actionable claims to which the society is or appears to be entitled and shall take such steps as he may deem necessary or expedient, to prevent loss or deterioration of, or damage to such property, effects and claims. He may carry on the business of the society so far as may be necessary with the previous approval of the Registrar.
