State Act
16
Section 16. Reconstruction of societies.
THE PUDUCHERRY CO-OPERATIVE SOCIETIES ACT, 1972
Act no. 7 of 19731973In forcePuducherry (State Act)
16. Reconstruction of societies.- Where a proposal for a compromise or arrangement- (a) between a registered society and its creditors; or (b) between a registered society and its members, is approved at a special general meeting called for the purpose, the Registrar may, on the application of the society or of any member or of any creditor of the society, or in the case of a society which is being wound up, the Liquidator, order reconstruction, in the prescribed manner, of the society.