Section 71 in Punjab Self-Supporting Co-operative Societies Act, 2006
71. Duties of liquidator.
(1)On his appointment, the liquidator, shall immediately inform the Registrar, if appointed by the self-supporting co-operative society, and the self-supporting co-operative society, if appointed by the Registrar and each claimant and creditor of the self-supporting co-operative society.(2)The liquidator shall immediately publish notice of his appointment in vernacular newspaper, circulated in the locality in which the registered office of the self-supporting co-operative society is situated.(3)In the notice mentioned in sub-section (2), the liquidator shall make it clear by requiring any person,-(a)indebted to the self-supporting co-operative society, to render an account at the specified time and place:(b)possessing property of the self-supporting co-operative society, to deliver it to the liquidator at the specified time and place : and(c)having a claim against the self-supporting co-operative society, whether liquidated, unliquidated, future or contingent, to present particulars of such claim in writing to the liquidator at the specified time and place.(4)The liquidator shall,-(a)take into custody and control of the property of the self supporting co-operative society;(b)open and maintain an account for the funds of the self-supporting co-operative society;(c)keep accounts of the funds of the self-supporting co-operative society, received and paid;(d)maintain separate lists of members, creditors and other persons having claims against the self-supporting co-operative society;(e)apply to the Registrar or general body for giving directions where it is found that the self-supporting co-operative society is unable to pay its obligations; and(f)deliver to the Registrar financial statement of the self supporting co-operative society in such form, as the liquidator may consider proper or in which the Registrar may require.
