Section 126: To freeze transactions, accounts and assets

1) The Registrar or the authority authorised by the Registrar may, in addition to imposing a fine pursuant to Section 125 on the concerned Cooperative Organisation, recommend that the concerned agency freeze transactions, assets, bank accounts, and property of such a Cooperative Organisation for a period not exceeding months.

2) In case the recommendation is received pursuant to sub-section (1), the concerned agency shall have to freeze transactions, assets and bank accounts of such a Cooperative Organisation and inform the Registrar or the authority authorised by the Registrar.