Section 13 in The Orissa Self-Help Co-operatives Act, 2001
13. Merger.
(1)A Co-operative may, by a special resolution, decide to merge itself into any other Co-operative which agrees, by a special resolution, to such merger.(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 in the articles of association or contract to the contrary, any member, other than those who voted in favour of the proposed merger, 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; and(b)information of the intended merger and information about settlement of claims of members and creditors is sent to the Registrar and his/her acknowledgement of receipt of the information is obtained.(5)When a Co-operative merges itself into any other Co-operative under this section, the registration of the former Co-operative shall stand cancelled and it shall be deemed to have been dissolved and the Registrar shall delete the name of such Co-operative 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 a Co-operative merges itself into any other Co-operative under this section, the members of the first Co-operative who assented or deemed to have assented to the merger, shall be deemed to have become the members of the Co-operative formed after merger.(7)When special resolutions 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.
