Regulatory Alerts2021-11-11
FS.S.6.9 – Requirements for Voluntary Termination of a Society
The regulator issued FS.S.6.9 to establish the mandatory requirements for societies seeking voluntary termination of their registration. The standard mandates that societies submit a formal termination application, settle all outstanding liabilities, and distribute remaining assets to members or beneficiaries according to statutory guidelines. Compliance with these procedural and financial obligations ensures the orderly deregistration of the society without regulatory penalties or operational disruptions.
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