The surplus assets, as shown in the report of a liquidator of a multiState co-operative society which is wound up,-- (a) may, if the bye-laws of the multi-State co-operative society specify the purpose for which surplus shall be utilised, be utilised by the Central Registrar for the said purpose, and (b) if the bye-laws aforesaid do not specify the purpose, be divided by the Central Registrar with the previous sanction of the Central Government, amongst the members of such multi-State cooperative society in such manner as may be prescribed.Open in Lexace · Ask the AI about this section
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