Section 58(1) in The M.P. Co-Operative Societies Act, 1960
(1)The Registrar shall audit or cause to be audited by a person authorised by him in writing by general or special order in this behalf, the accounts of every society once at least every year and shall recover from such society such fees as may be prescribed :[Provided that-(i)the State Government may, by notification, for reasons to be specified, therein, exempt any class of societies;(ii)the Registrar may for reasons to be recorded in writing, exempt any society from the payment of fees or part thereof, under this sub-section:][Provided further that a Central Society or an Apex Society or an Urban Co-operative Bank may get the accounts audited by a Chartered Accountant approved by the Registrar] [Substituted by Section 5 of M.P. Act No. 7 of 1997 [w.e.f. 6-2-1997].] :[Provided also that if there is a complaint of financial irregularities or embezzlement after the completion or issuance of the audit report, the Registrar may order special audit for the purpose.] [Inserted by Section 11 of M.P. Act No. 20 of 1999 [w.e.f. 7-8-1999].]
