: (1) If the following conditions exist in a cooperative society, the committee may apply to the registrar or an officer authorized by the registrar for the approval of the cancellation of registration by decision of the immediate majority of the members of the general meeting to dissolve such cooperative society:-
(a) If it is not possible to achieve the objectives and functions mentioned in the regulations,
(b) If unable to benefit the member.
(2) The Registrar or an officer authorized by the Registrar may revoke the registration of such a cooperative if it is deemed appropriate to dissolve such a cooperative while investigating the application received under sub-section (1).
(3) Notwithstanding anything contained in sub-section (2), the Registrar or an officer authorized by the Registrar may cancel the registration of a co-operative society in the following cases:-
(a)  If it is found to be inactive without any transaction for two consecutive years,
(b) If any co-operative society repeatedly commits an act contrary to this Act or the regulations made under this Act,
(c) if acting contrary to the purpose mentioned in the regulations,
(d) Acting against the values, beliefs and principles of the cooperative.
(4) Before canceling the registration in accordance with sub-section (2) or (3), the registrar or the officer authorized by the registrar shall give a period of at least fifteen days to such cooperative organization for hearing.
(5) If the registration of a co-operative society is revoked according to sub-section (2) or (3), such co-operative society shall be deemed dissolved.
(6) Notwithstanding anything written in sub-section (2) or (3), the registrar shall consult the Nepal Rastra Bank before canceling the registration of an organization or association that has received a subsidy exceeding the limit set by the Government of Nepal, with the approval of the Ministry and before canceling the registration of a cooperative bank.
(7) In case of cancellation of the registration of a cooperative organization according to sub-section (2) or (3), the registration certificate of such organization, association or bank shall be deemed to be canceled automatically.
(8) Nothing written in this section shall be deemed to adversely affect the provisions regarding cancellation of registration of cooperative banks mentioned in section 60.