40B.     Conversion of co–operative to company

 

Where any co–operative is incorporated as a company in accordance with the provisions of section 161A or 161C of the Co-operatives Act, 1981 (Act No. 91 of 1981) or section 62 of the Co-operatives Act, 2005 (Act No. 14 of 2005), such co–operative and such company shall for the purposes of this Act be deemed to be and to have been one and the same company.