Madhya Pradesh Cooperative Societies (Amendment) Act, 2016 (Act No. 25 of 2016)

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tart t -laf WI Y. TO aftf-izrg m TRI cS--u 4,— 'WC "711417d 44" * tg, xi.< "tutu 441 7 ateit 44)" (7w) Wtci fttf irqd PK ,sk; (t) -arkg 4 rK aiR xio< "arrt-d 44)" t T.Terri trt, tTK "A13:117d 441 7 SRal 44" vequ 14A. m1111-0, fel7 12 iic11-€11 2016 gUS (3) t argRvi 4, Tramti Tr-6*Tft STrin 246-1a3T(7.)-3111-T.—`11Tid kW %IR i aIØ 348t ((-ik tn) a1ftti7T, 2016 (74-li4' 25 TR 2016) 71 3iT)71 3T-Vg (Ntlqicii 711-177 1:15,61{1 Nebitild 17-41 41Rif t. nursthr * mrtivict Trt t .urr ark7n-grR, maxi qiqa, 3f-et* Brag. litzeql 0,4471, ?Ca 12 Ricycit 2016 750 (1) MADHYA PRADESH ACT No. 25 op 2016 THE MADHYA PRADESH CO-OPERATIVE SOCIETIES (AMENDMENT) ACT, 2016. [Received the assent of the Governor on the 6th September, 2016; assent first published in the "Madhya Pradesh Gazette (Extra-ordinary)", dated the 12th September, 2016.] An Act further to amend the Madhya Pradesh Co-operative Societies Act, 1960. Be it enacted by the Madhya Pradesh Legislature in the sixty-seventh year of the Republic of India as follows :-- 2016. 1. (1) This Act may be called the Madhya Pradesh Co-oprative Societies (Amendment) Act, Short title and commencement. (2) It shall come into force on the date of its publication in the Madhya Pradesh Gazette. In Section 16 of the Madhya Pradesh Co-operative Societies Act, 1960 (No. 17 of 1961) Amendment of (hereinafter referred to as the principal Act), in sub-section (2), in the second proviso, for full stop, Section 16. the colon shall be substituted and thereafter the following proviso shall be inserted, namely :— "Provided also that an order for the winding up or an order sanctioning a scheme of compromise or arrangement or of amalgamation or reconstruction, of a Co-operative Bank shall be made only with the previous sanction in writing of the Reserve Bank?. For Section 69-A of the principal Act, the following Section shall be substituted, namely :— Substitution of Section 69-A. "69A. Notwithstanding anything to the contrary contained in this Act, the Registrar shall Windingupolto- forthwith make an order for winding up of a Co-operative Bank, if so required operative Bank. by the Reserve Bank of India in the circumstances mentioned in Section 13-D of the Deposit Insurance and Credit Guarantee Corporation Act, 1961 (No. 47 ' of 1961) or otherwise.". In Section 69-B of the principal Act,— Amendment of Section 69-B. in the marginal heading, for the words "insured bank", the wordS "insured bank or transferee bank" shall be substituted;

in the provision, for the words "insured bank" occurring twice, the words "insured bank or transferee bank" shall be substituted. 141,19), flwli4Vo1 W:17 a ui th9ü1, munrkst weich •-“F WrICICIfr *Mg t IOW Mtbr Wt1-2°16.