(2)In respect of any Nidhi which has violated these rules or has failed to function in terms of the Memorandum and Articles of Association, the [Central Government] [Substituted 'concerned Regional Director' by Notification No. G.S.R. 467(E), dated 1.7.2019 (w.e.f. 31.3.2014).] may appoint a Special Officer to take over the management of Nidhi and such Special Officer shall function as per the guidelines given by [Central Government] [Substituted 'such Regional Director' by Notification No. G.S.R. 467(E), dated 1.7.2019 (w.e.f. 31.3.2014).]:Provided that an opportunity of being heard shall be given to the concerned Nidhi by the [Central Government] [Substituted 'Regional Director' by Notification No. G.S.R. 467(E), dated 1.7.2019 (w.e.f. 31.3.2014).] before appointing any Special Officer.
