Section 50A(5) in Jharkhand Co-operative Societies Rules, 2008
(5)The resolution for the reduction of the share capital of a co-operative society shall take effect from the date on which it is approved by the Registrar under sub- Rule (4) above.Provided that in case of a self supporting co-operative society, such prior approval of the Registrar shall not be mandatoryProvided further that nothing in sub-rules(1), (2), (3), (4) and (5) shall prevent a Co-operative Society from adjusting partially or fully the value of the shares held by an individual member against any amount due from him or from making a refund of the value of shares held by him after the dues of the society against him have been fully satisfied, in accordance with its bye laws.
