A share certificate of Rs.100 was issued to the joint owners on purchase of an apartment in one of the Societies. The Society was registered under the Societies Registration Act, 1860. The relevant conveyance deed mentions that Haryana Apartment Ownership Act, 1983 was applicable.
After the commencement of the Haryana Registration and Regulation of Societies Act 2012 the Society got registered under the same Act. The Society has informed that all members shall be issued an identity card containing the photograph and particulars at a cost of Rs.40/-.
What are legal implications of the share certificate being replaced by Indentity Card in terms of Haryana Registration and Regulation of Societies Act, 2012.
