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Section 17
Non-Continuance of Membership of a Protected Member Organization
: (1) Membership of a Protected Member Organization shall not be maintained in the following cases:-
(a) In the event of bankruptcy or liquidation or financial liquidation,
(b) in case of amalgamation of any secured member organization with any other secured member organisation.
(2) Notwithstanding anything written in clause (b) of sub-section (1), the membership of such protected member organization shall remain intact in the event that the protected member organizations are merged with one another in such a way that the name of one of the protected member organizations remains.
(3) In the event that the membership is not maintained as per sub-section (1), the information fund shall publish the information on the national level daily newspaper and its website.
(a) In the event of bankruptcy or liquidation or financial liquidation,
(b) in case of amalgamation of any secured member organization with any other secured member organisation.
(2) Notwithstanding anything written in clause (b) of sub-section (1), the membership of such protected member organization shall remain intact in the event that the protected member organizations are merged with one another in such a way that the name of one of the protected member organizations remains.
(3) In the event that the membership is not maintained as per sub-section (1), the information fund shall publish the information on the national level daily newspaper and its website.