(a) the previous operation of the Act so repealed or anything duly done or suffered thereunder; or
(b) any right, privilege, obligation or liability acquired, accrued or incurred under the Act so repealed; or
(c) any penalty forfeiture or punishment incurred in respect of any offence committed against the Act so repealed; or
(d) any investigation, legal proceeding or remedy in respect of any such right, privilege, obligation, liability, penalty, forfeiture or punishment as aforesaid, and any such investigation, legal proceeding or remedy may be instituted, continued or enforced, and any such penalty, forfeiture or punishment, may be imposed as if that Act had been repealed.
Chapter XIV
Insured Co-operative Banks
135A.
(i) an order for winding up or an order sanctioning a scheme of compromise or arrangement of amalgamation or reconstruction (including division or re-organisation) of the bank may be made only with the previous sanction in writing of the Reserve Bank of India;
(ii) an order for the winding up of the Bank shall be made by the Registrar if so required by the Reserve Bank of India in the circumstances referred to in Section 130D of the Deposit Insurance Corporation Act, 1961;
(iii) if so required by the Reserve Bank of India in the public interest or for preventing the affairs of the bank being conducted in a manner detrimental to the interests of the depositors or for securing the proper management of the bank) an order shall be made for the supersession (removal) of the committee of management or other managing body (by whatever name called) of the bank and the appointment of an administrator therefore for such period or periods, not exceeding five years in the aggregate, as may from time to time be specified by the Reserve Bank of India, and the administrator so appointed shall, after the expiry of his term of office, continue in office until the day immediately preceding the date of the first meeting of the new committee;
(iv) no appeal, revision or review shall lie or be permissible against an order such as is referred to in clause (i), (ii), or (iii) made with the previous sanction in writing or on the requisition of the Reserve Bank of India and such order or sanction shall not be liable to be called in question in any manner;
(v) the liquidator or the incurred Co-operative bank or transferee bank, as the case may be, shall be under an obligation to repay the Deposit Insurance Corporation established under the Deposit Insurance Corporation Act, 1961 in the circumstances, to the extent and in the manner referred to in Section 21 of that Act.
(ii) 'Insured co-operative bank' means a society which is an insured bank under the provisions of the Deposit Insurance Corporation Act, 1961.
(iii) 'Transferee bank' in relation to an insured Co-operative bank means a co-operative bank;
(a) with which such insured co-operative bank is amalgamated, or
(b) to which the assets and liabilities of such insured Co-operative bank are transferred or
(c) into which such insured co-operative bank is divided or converted under the provisions of Section 18(i).
Section 135 • Arunachal Pradesh Co-operative Societies Act, 1978
135. Repeal and savings.
arunachal-pradesh-co-operative-societies-act-1978-sec-135.json
•
Section 135
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"section": {
"number": "135",
"title": "135. Repeal and savings.",
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"content": "(a) the previous operation of the Act so repealed or anything duly done or suffered thereunder; or\n(b) any right, privilege, obligation or liability acquired, accrued or incurred under the Act so repealed; or\n(c) any penalty forfeiture or punishment incurred in respect of any offence committed against the Act so repealed; or\n(d) any investigation, legal proceeding or remedy in respect of any such right, privilege, obligation, liability, penalty, forfeiture or punishment as aforesaid, and any such investigation, legal proceeding or remedy may be instituted, continued or enforced, and any such penalty, forfeiture or punishment, may be imposed as if that Act had been repealed.\nChapter XIV\nInsured Co-operative Banks\n135A.\n(i) an order for winding up or an order sanctioning a scheme of compromise or arrangement of amalgamation or reconstruction (including division or re-organisation) of the bank may be made only with the previous sanction in writing of the Reserve Bank of India;\n(ii) an order for the winding up of the Bank shall be made by the Registrar if so required by the Reserve Bank of India in the circumstances referred to in Section 130D of the Deposit Insurance Corporation Act, 1961;\n(iii) if so required by the Reserve Bank of India in the public interest or for preventing the affairs of the bank being conducted in a manner detrimental to the interests of the depositors or for securing the proper management of the bank) an order shall be made for the supersession (removal) of the committee of management or other managing body (by whatever name called) of the bank and the appointment of an administrator therefore for such period or periods, not exceeding five years in the aggregate, as may from time to time be specified by the Reserve Bank of India, and the administrator so appointed shall, after the expiry of his term of office, continue in office until the day immediately preceding the date of the first meeting of the new committee;\n(iv) no appeal, revision or review shall lie or be permissible against an order such as is referred to in clause (i), (ii), or (iii) made with the previous sanction in writing or on the requisition of the Reserve Bank of India and such order or sanction shall not be liable to be called in question in any manner;\n(v) the liquidator or the incurred Co-operative bank or transferee bank, as the case may be, shall be under an obligation to repay the Deposit Insurance Corporation established under the Deposit Insurance Corporation Act, 1961 in the circumstances, to the extent and in the manner referred to in Section 21 of that Act.\n(ii) 'Insured co-operative bank' means a society which is an insured bank under the provisions of the Deposit Insurance Corporation Act, 1961.\n(iii) 'Transferee bank' in relation to an insured Co-operative bank means a co-operative bank;\n(a) with which such insured co-operative bank is amalgamated, or\n(b) to which the assets and liabilities of such insured Co-operative bank are transferred or\n(c) into which such insured co-operative bank is divided or converted under the provisions of Section 18(i).",
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