Section 30(7) in Jammu and Kashmir Co-Operative Societies Act, 1989
(7)Notwithstanding anything contained in this Act, the Registrar shall in case of Co-operative Bank, if so required [in consultation with the Reserve Bank] [Substituted 'in writing by the Reserve Bank' by Act No. 50 of 2018, dated 16.12.2018.] or National Bank for Agriculture and Rural Development, in the public interest or for preventing the affairs of the Co-operative Bank being conducted in a manner detrimental to the interest of the depositors or for securing the proper management of a Co-operative Bank, pass an order for the supersession of the Committee or the Board of that Co-operative Bank and for the appointment of an Administrator for such period or periods [not exceeding two years] [Substituted 'not exceeding one year' by Act No. 50 of 2018, dated 16.12.2018.] in the aggregate as may, from time to time, be specified by the Reserve Bank or National Bank for Agriculture and Rural Development.[30A. Transitional provision] [Inserted by Act No. VI of 2004.]. - [(1)] [Renumbered by Mt No. XVII of 2011, Dated 9.5.2011.] Notwithstanding anything contained in section 29 or section 30 of the Act, where the Government or the Registrar has appointed a Board of Management ox Administrator, as the case may be, to manage the affairs of any Society before the commencement of the Jammu and Kashmir Co-operative Societies (Amendment) Act, 2003 and elections for the constitution of the Committee for any such Society have not been held before such commencement, such Board of Management or the Administrator may continue to manage the affairs of the Society concerned for a period not exceeding one year from the date of its appointment and the elections shall be held within such period for reconstitution of the Committee in accordance with the provisions of the Act.
