Section 60: De-registration

1) In case the Cooperative Bank seems incapable of paying the debt or external liability due to be paid, the Nepal Rastra Bank may advise the Registrar to de-registration the Cooperative Bank.

2) Before giving the advice referred to in sub-Section (1), the Nepal Rastra Bank shall have to provide such a Cooperative Bank with an opportunity of 15 days to defend itself.

3) In case of receipt of advice to revoke the registration pursuant to sub-Section (1), the Registrar shall deregister the Cooperative Bank and appoint a liquidator pursuant to Section 89.