Section 12 in The Orissa Self-Help Co-operatives Act, 2001
12. Amalgamation.
(1)Any two or more Co-operatives may, by special resolutions, decide to amalgamate themselves and form a new Co-operative.(2)Where special resolutions are passed under Sub-section (1) each Co-operative shall give notice thereof together with a copy of the resolution passed by it to all its members and creditors, and notwithstanding any provision of the articles of association or contract to the contrary, any member other than those who voted in favour of the proposed amalgamation, or creditor shall, during a period of thirty days from the date of issue of the notice upon him/her, have the option of withdrawing his/her shares, deposits or loans from the Co-operative, as the case may be, subject to the discharge of his/her obligations to the Co-operative.(3)Any member or creditor who does not exercise his/her option within the period specified in Sub-section (2) shall be deemed to have assented to the resolution.(4)The special resolutions passed under Sub-section (1) shall not take effect until -(a)all claims of the members and creditors of each Co-operative who have exercised the option under Sub-section (2) have been met in full or otherwise satisfied;(b)information of the intended amalgamation and information about settlement Of claims of members and creditors is sent to the Registrar by registered post along with memorandum of association and articles of associations of the Co-operative; and(c)the certificate of registration and certified copy of the memorandum of association including articles of associations of the Co-operative, signed and sealed by the Registrar, are issued to such Co-operative in accordance with Section 4.(5)When two or more Co-operatives amalgamate themselves into a new Co-operative under this section, the registration of the Co-operatives so amalgamated shall stand cancelled and shall be deemed to have been dissolved and the Registrar shall delete the names of the Co-operatives from the register of Co-operatives. On the other hand the name of the newly formed Co-operative which is registered by the Registrar shall find place in the register of Co-operatives.(6)When two or more Co-operatives amalgamate themselves into a new Co-operative under this section, all the members of the Co-operatives who have assented to or deemed to have assented to the amalgamation shall be deemed to have become members of the new Co-operative.(7)When special resolution passed under Sub-section (1) take effect, the resolutions shall be sufficient conveyance to vest the assets and liabilities in the Co-operative so formed without any further assurance.
