CO-OPERATIVE CREDIT SOCIETIES ACT 143 



Audit, Inspection, and Inquiry. 



21. (i) The Registrar shall audit the accounts of each Audit, inspec 

 society once at least in every year. 1"^"'. ^"" 



(2) No charge shall be made in respect of any audit made ^ 

 under subsection (i). 



(3) The audit under subsection (i) shall include an examina- 

 tion of overdue debts, if any. and a valuation of the assets and 

 liabilities of the society. 



(4) The Registrar, the Collector or any person authorized 

 in this behalf by the Registrar or the Collector may at any 

 time inspect the books, accounts, papers and securities of a 

 society, and every officer of the society shall furnish such in- 

 formation in regard to the transactions and working of the 

 society as the person making such inspection shall require. 



(5) The Registrar may of his own motion, and shall on the 

 request of the Collector, or on the application of a majority of 

 the Committee or not of less than one-third of the members, 

 hold an inquiry into the constitution, working and financial 

 condition of a society, and all officers and members of the 

 society shall furnish such information in regard to the affairs 

 of the society as the Registrar may require. 



(6) Where an inquiry is held under subsection (5), the 

 Registrar may apportion the costs, or such part of the costs as 

 he may think right, between the society, the members demand- 

 ing an inquiry and the officers or former officers of the society. 



(7) Any sum awarded by way of costs under subsection (6) 

 may be recovered, on application to a magistrate having juris- 

 diction in the place where the person from whom the money is 

 claimable resides for the time being, by the distress and sale of 

 any movable property within the limits of the jurisdiction of 

 such magistrate belonging to such person. 



22. A copy of any entry in a book of a society regularly Mode of 

 kept in the course of business, shall, if certified in such manner P''^"'^ °( 

 as may be prescribed by rules made under this Act, be received, societies' 

 in any suit to recover a debt due to the society, as prima facie books, 

 evidence of the existence of such entry, and shall be admitted 



as evidence of the matters, transactions and accounts therein 

 recorded in every case where, and to the same extent as, the 

 original entry itself is now by law admissible, but not further 

 or otherwise. 



Dissolution of a Society. 



23. (i) If the Registrar, after holding an inquiry under Dissolution, 

 section 21, subsection (5), or on receipt of an application made 



hy three-fourths of the members of a society, is of opinion that 



