Section 43(1) names grounds of disqualification in clauses (a) to (n), from insolvency and conviction to three missed board meetings in a row, and the 2023 Act adds clause (o). New sub-section (1A) bars a former director of a superseded board from the board of another multi-State co-operative...
Read Complete Guide →A society that was confined to one State and becomes a multi-State co-operative society by reorganisation is deemed registered under this Act. As amended, if all the successor States take the necessary steps to divide it into State societies within three years, it ceases to be a multi-State...
Fines under sub-section (1) are now not less than five thousand rupees and up to one lakh rupees. Under sub-section (2) the fine for an employer who fails to pay over a deduction may extend to ten thousand rupees. Election offences carry up to six months' imprisonment or fine or both, and now also...
No court inferior to a Metropolitan Magistrate or a Judicial Magistrate of the first class may try an offence under the Act. A prosecution for an offence under section 104 can be started only on a written complaint by a member of the society or by the Central Registrar, in the competent court...
Every society must appoint a Co-operative Information Officer to provide information on its affairs and management to members, confined to the disclosure norms in its bye-laws. A member applies with a prescribed fee; the Officer must provide the information or reject the application with reasons...
The register of members, the index of members, the register of debenture holders and copies of all annual returns with certificates and documents are kept at the registered office. Any member or debenture holder may inspect them without fee; any other person on payment of a prescribed sum, and not...
The books are open to inspection during business hours by the Central Registrar or a person authorised by him, "not below the rank of Assistant Commissioner or equivalent", by a Government officer authorised by the Central Government, and by members. Inspection by the first two may be made without...
Minutes of every general meeting and every board or board-committee meeting are entered in a numbered-page book within thirty days of the meeting. They are signed as the section requires, must be a fair and correct summary, and for board meetings must name those present and those dissenting...
A person appointed liquidator is deemed a public servant within the meaning of section 21 of the Indian Penal Code (45 of 1860). No suit may be instituted against a society or its officers about its constitution, management or business until ninety days after written notice is delivered to the...
"Save as otherwise provided in this Act", no court has jurisdiction over registration, bye-laws or their amendment, or any matter concerning winding up and dissolution. While a society is being wound up, no suit or proceeding about its business may go on or start against the liquidator, society or...
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