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Section 47
Dissolution of the Committee
: (1) The General Assembly may dissolve the Committee in the following cases :-
(a) If the business of the co-operative society is endangered by the fraudulent act of the committee,
(b) If the co-operative society is unable to pay its liabilities within the prescribed time,
(c) In case of acts contrary to the purpose and function mentioned in the regulations,
(d) If the committee fails to fulfill its responsibilities,
(e) In case of repeated violation of the conditions mentioned in this Act or the regulations made under this Act or the instructions given by the Registrar or the authorized officer from the Registrar.
(2) If the committee is dissolved according to sub-section (1), the general assembly shall elect a new committee.
(3) If the committee does not comply with the instructions given by the registrar or an officer authorized by the registrar in accordance with this act or the rules made under this act, or based on the report submitted in accordance with sub-section (2) of section 40, the registrar or the head of the office, on the basis of the seriousness of the matter observed during the complaint or inspection to the committee He can give a chance to improve by giving a maximum of six months and if he does not improve within such a period, he will dissolve such committee.
(4) If the committee is dissolved according to sub-section (3), within three months from the date of such dissolution, the election of another committee shall be completed and until such election, an ad-hoc committee shall be formed as specified by the Registrar or an officer authorized by the Registrar to conduct the daily operations of the cooperative.
(5) According to this section, all the expenses incurred in conducting the election of another committee shall be borne by the related cooperative organization.
(6) Notwithstanding anything written elsewhere in this section, the registrar shall consult the Nepal Rastra Bank before dissolving the committee of the cooperative bank and shall do so in accordance with the consultation given by the Nepal Rastra Bank.
(a) If the business of the co-operative society is endangered by the fraudulent act of the committee,
(b) If the co-operative society is unable to pay its liabilities within the prescribed time,
(c) In case of acts contrary to the purpose and function mentioned in the regulations,
(d) If the committee fails to fulfill its responsibilities,
(e) In case of repeated violation of the conditions mentioned in this Act or the regulations made under this Act or the instructions given by the Registrar or the authorized officer from the Registrar.
(2) If the committee is dissolved according to sub-section (1), the general assembly shall elect a new committee.
(3) If the committee does not comply with the instructions given by the registrar or an officer authorized by the registrar in accordance with this act or the rules made under this act, or based on the report submitted in accordance with sub-section (2) of section 40, the registrar or the head of the office, on the basis of the seriousness of the matter observed during the complaint or inspection to the committee He can give a chance to improve by giving a maximum of six months and if he does not improve within such a period, he will dissolve such committee.
(4) If the committee is dissolved according to sub-section (3), within three months from the date of such dissolution, the election of another committee shall be completed and until such election, an ad-hoc committee shall be formed as specified by the Registrar or an officer authorized by the Registrar to conduct the daily operations of the cooperative.
(5) According to this section, all the expenses incurred in conducting the election of another committee shall be borne by the related cooperative organization.
(6) Notwithstanding anything written elsewhere in this section, the registrar shall consult the Nepal Rastra Bank before dissolving the committee of the cooperative bank and shall do so in accordance with the consultation given by the Nepal Rastra Bank.