Section 73A in Jammu and Kashmir Co-Operative Societies Act, 1989
73A. [ Registrar's obligations. [Inserted by Act No. X of 2010, Dated 28.4.2010, w.e.f. 29.4.2010.]
(1)The Registrar shall issue directions to ensure that Reserve Bank's regulatory prescriptions in case of an Apex Co-operative Bank or a Central Co-operative Bank are implemented within one month from the date of receipt.of the advise from the Reserve Bank.(2)The Registrar shall, on being advised by the Reserve Bank for winding up or supersession, ensure that the liquidator or the Administrator, as the case may be, is appointed within one month from the date of receipt of the advice from the Reserve Bank.(3)If, in the opinion of the Reserve Bank or the National Bank, the Chief Executive Officer of an Apex Co-operative Bank or a Central Co-operative Bank does not fulfil eligibility criteria prescribed by the Reserve Bank, the Registrar shall direct compliance of the orders of the Reserve Bank or the National Bank, as the case may be, within two months of being so advised by the Reserve Bank or the National Bank.(4)If, in the opinion of the Reserve Bank or the National Bank, a person has been co-opted as a member of the committee under sub-section (2) of section 29B without having the requisite special knowledge or experience in such fields as may be prescribed by the Reserve Bank, the Registrar shall, on being advised by the Reserve Bank or the National Bank, direct compliance of the orders of the Reserve Bank or the National Bank, as the case may be, within two months of being so advised by the Reserve Bank or the National Bank.]
