Co-Operative Societies Act · 2015 Revised Edition · Part VIII · Surcharge and Attachment
46. Power of Registrar to surcharge officers etc. of registered society
Official textFrom Attorney General's Chambers, unchanged
Where in the course of the winding-up of a registered society, it appears that any person who has taken part in the organisation or management of such society, or any past or present officer of the society, —
registered society
“registered society” means a co-operative society registered under this Act;
has misapplied or retained or become liable or accountable for any money or property of such society; or
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has been guilty of misfeasance or breach of trust in relation of such society, the Registrar may, on the application of the liquidator or any creditor or contributory, examine into the conduct of such person and make an order requiring him to —
repay or restore the money or property or any part thereof with interest at such rate as the Registrar thinks just; or
contribute such sum to the assets of such society by way of compensation in regard to the misapplication retainer, dishonesty or breach of trust as the Registrar thinks just. Such order shall be enforced in the same manner as if the order had been a judgment of a court.
This section applies notwithstanding that the act is one for which the offender may be criminally responsible.
Appeal to Minister.
Minister
“Minister” means Minister responsible for co-operative societies’ matters;
Terms defined in s 2
Minister
Defined · s 2“Minister” means Minister responsible for co-operative societies’ matters;
officer
Defined · s 2“officer” includes a chairman, secretary, treasurer, member, or other person empowered under the rules or by-laws to give directions in regard to the business of a registered society;
registered society
Defined · s 2“registered society” means a co-operative society registered under this Act;
Registrar
Defined · s 2“Registrar” means the Registrar of Co-operative Societies appointed under section 3 and includes any person when exercising such powers of the Registrar as may be conferred upon him under that section;