Section 68
Inspection on the application of creditors
of Co-Operative Societies Act 1993
The Commission may, on the application of a creditor of a co-operative society, inspect or direct any public officer authorized by him by order in writing in this behalf to inspect books, accounts, cash or other properties belonging to the co-operative society and its subsidiary or subsidiaries, if any, and the Commission or such public officer shall have all the powers under section 64.
Co-operative Societies 63
(2)
No inspection shall be made or directed under subsection (1)
on the application of a creditor of a co-operative society unless the creditor—
(a)
satisfies the Commission that the debt is a sum then due and that he has demanded payment thereof and has not received satisfaction within reasonable time; and
(b)
deposits with the Commission such sum as the Commission may require as security for the costs of such inspection.
(3)
The Commission shall communicate the result of an inspection under subsection (1) to the creditor and the co-operative society.