Section 35A in The U.P. Co-operative Societies Act, 1965
35A. [ [Inserted by U.P. Act No.12 of 1976, vide Section 11 (w.e.f. 3-10-1975.)]
(1)Without prejudice to other provisions of this Chapter, where for two successive co-operative years (including any period before the commencement of this section) -(a)more than seventy per cent of the total dues of any primary society, which is a credit society against its members during any co-operative year, remain unpaid at the end of such year; or(b)the number of defaulting members exceeds seventy per cent of the total number of indebted members of such society, at the end of any such year, then, the Chairman and all members of the Committee of Management of any such society shall, upon an order coming into effect under sub-section (3), vacate their respective offices as such.(2)The provisions of sub-section (1) as they apply to a primary credit society, shall mutatis mutandis apply to a financing bank, with the submission of references to 'seventy per cent by reference to 'sixty per cent.'(3)In relation to any society or bank as referred to in sub-section (1) or sub-section (2), the Registrar may make such arrangements as he thinks proper for the management of the affairs of such society or bank, as he think fit and the provisions of sub-sections (3), (4), (5) and (6) of Section 35 shall mutatis mutandis apply.]
