(1)

Where the Registrar is satisfied that it is essential in the public interest or in the interest of the co-operative movement, or for the purpose of securing the proper management of any registered society, that two or more registered societies should be amalgamated, then, notwithstanding anything contained in section 13, but subject to the provisions of this section, the Registrar may, by order notified in the Tamil Nadu Government Gazette, provide for the amalgamation of these societies into a single registered society with such constitution, property rights, interests and authorities, and such liabilities, duties and obligations, as may be specified in the order.

(2)

No order shall be made under this section, unless -

(a) a copy of the proposed order has been sent in draft to each of the societies concerned and a copy of the draft order or gist thereof has been communicated to every member and every creditor of the society by the society concerned and if that society fails to so communicate, by any person authorised by the Registrar in such manner and within such time as may be prescribed.

(b) the Registrar has considered and made such modifications in the, draft order as may seem to him desirable in the light of any suggestions and objections which may be received by him within such period (not being less than two months from the date on which the copy of the order aforesaid was received by each of the societies concerned) as the Registrar may fix in that behalf, either from such society or from any member or class of members thereof or from any creditor or class of creditors.

(3)

The order referred to in sub-section (1) may contain such incidental, consequential and supplemental provisions as may, in the opinion of the Registrar, be necessary to give effect to the amalgamation.

(4)

Every member or creditor of each of the societies to be amalgamated who has objected to the scheme of amalgamation, within the period specified, shall be entitled to receive, on the issue of the order of amalgamation, his share or interest in the capital and other moneys due to him if he be a member, and the amount in satisfaction of his dues if he be a creditor.

(5)

"Where two or more societies are ordered to be amalgamated under this section, the Registrar may register the amalgamated society and the bye-laws thereof. Oft such registration, the registration of the original societies shall be deemed to have been cancelled.

(6)

The registration of the amalgamated society shall be a sufficient conveyance to vest the assets and liabilities of the original societies in the new society in the manner specified in the order referred to in sub-section (1).