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Multi-State Co-Operative Societies Act, 2002

Section - 18 - Central registrar to prepare scheme of amalgamation or reorganisation of a co-operative bank in certain cases

Central registrar to prepare scheme of amalgamation or reorganisation of a co-operative bank in certain cases

18. When an order of moratorium has been made by the Central Government under sub-section (2) of section 45 of the Banking Regulation Act, 1949 (10 of 1949) in respect of a co-operative bank, the Central Registrar, with the previous approval of the Reserve Bank in writing, may, during the period of moratorium, prepare a scheme-

(a)-for the amalgamation of the co-operative bank with any other co-operative bank; or
(b)-for the reorganisation of the co-operative bank.
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