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Contents MULTI-STATE CO-OPERATIVE SOCIETIES ACT, 2002 PAGE
CHAPTER I PRELIMINARY 1. Short title, extent and commencement
1
2. Application
1
3. Definitions
2 CHAPTER II
CENTRAL REGISTRAR AND REGISTRATION OF MULTI-STATE CO-OPERATIVE SOCIETIES 4. Central Registrar
5
5. Multi-State co-operative societies which may be registered
5
6. Application for registration
6
7. Registration
6
8. Registration certificate
8
9. Multi-State co-operative society to be body corporate
8
10. Bye-laws of multi-State co-operative societies
8
11. Amendment of bye-laws of a multi-State co-operative society
10
12. When amendment of bye-laws comes into force
11
13. Change of name
11
14. Address
12 I-5
CONTENTS
I-6 PAGE
15. Publication of name by multi-State co-operative society
12
16. Liability
12
17. Amalgamation or transfer of assets and liabilities, or division of multi-State co-operative societies
13
18. Central registrar to prepare scheme of amalgamation or reorganisation of a co-operative bank in certain cases
14
19. Promotion of subsidiary institution
14
20. Liability of a co-operative bank to Deposit Insurance and Credit Guarantee Corporation
15
21. Cancellation of registration certificate of multi-State co-operative societies in certain cases
15
22. Conversion of a co-operative society into a multi-State co-operative society
16
CHAPTER III REGISTRATION AND FUNCTIONS OF FEDERAL CO-OPERATIVES 23. Registration of federal co-operative
17
24. Functions of federal co-operative
17
CHAPTER IV MEMBERS OF MULTI-STATE CO-OPERATIVE SOCIETIES AND THEIR DUTIES, RIGHTS AND LIABILITIES 25. Persons who may become members
18
26. Nominal or associate member of society
19
27. Educational course for members
19
28. Members not to exercise rights till due payment made
20
29. Disqualification for member of a multi-State co-operative society
20
30. Expulsion of members
20
31. Vote of members
20
32. Manner of exercising vote
21
33. Restriction on holding of shares
21
34. Restriction on transfer of shares or interest
21
35. Redemption of shares
21
36. Transfer of interest on death of members
22
37. Liabilities of past member and estate of deceased member
22
I-7
CONTENTS PAGE
CHAPTER V DIRECTION AND MANAGEMENT OF MULTI-STATE CO-OPERATIVE SOCIETIES 38. Constitution, powers and functions of general body
23
39. Annual general meeting of general body
23
40. Special general meeting of general body
24
41. Board of directors
25
42. Association of employees in management decision making process
26
43. Disqualifications for being a member of board
26
44. Prohibition to hold office of chairperson or president or vice-chairman or vice-president in certain cases
29
45. Establishment of Co-operative Election Authority
29
45A. Power of Chairperson
30
45B. Removal and suspension of Chairperson, Vice-Chairperson and Members
30
45C. Disclosure and declaration of interest
31
45D. Resignation of Members
31
45E. Filling of casual vacancy
31
45F. Restriction of re-employment
32
45G. Vacancies, etc., not to invalidate proceedings of Authority
32
45H. Meetings of Authority
32
45-I. Functions of Authority
32
45J. Elections of members of board
32
45K. Appointment of Returning Officer and other officers
33
45L. Power to issue directions
34
46. Holding of office in co-operative society
34
47. Removal of elected members by general body
34
48. Nominee of Central Government or State Government on board
34
49. Powers and functions of board
35
50. Meetings of board
36
51. Chief Executive
36
52. Powers and functions of Chief Executive
37
53. Committees of board
38
54. Securing possession of records, etc.
38
I-8
CONTENTS
PAGE
CHAPTER VI PRIVILEGES OF MULTI-STATE CO-OPERATIVE SOCIETIES 55. Charge and set-off in respect of share or contribution or interest of members
39
56. Share or contribution or interest not liable to attachment
39
57. Register of members
39
58. Admissibility of copy of entry as evidence
39
59. Exemption from compulsory registration of instruments
40
60. Deduction from salary to meet multi-State co-operative society’s claim in certain cases
40
61. Government aid to multi-State co-operative societies
41
CHAPTER VII PROPERTIES AND FUNDS OF MULTI-STATE CO-OPERATIVE SOCIETIES 62. Funds not to be divided by way of profit
41
63. Disposal of net profits
42
63A. Establishment of Co-operative Rehabilitation, Reconstruction and Development Fund
42
63B. Rehabilitation and reconstruction of sick societies
43
63C. Financial assistance to multi-State co-operative societies for development
43
64. Investment of funds
43
65. Restriction on contribution
45
66. Restriction on loans
45
67. Restrictions on borrowing
45
68. Restriction on other transactions with non-members
45
69. Contributory provident fund
45
CHAPTER VIII AUDIT, INQUIRY, INSPECTION AND SURCHARGE 70. Appointment and remuneration of auditors 70A. Concurrent Audit
46 48
71. Provision as to resolutions for appointing or removing auditors
48
72. Qualifications and disqualifications of auditors
48
73. Powers and duties of auditors
49
I-9
CONTENTS PAGE
74. Signature of audit report, etc.
50
75. Reading and inspection of auditor’s report
51
76. Right of auditor to attend general meeting
51
77. Power of Central Government to direct special audit in certain cases
51
78. Inquiry by Central Registrar
52
79. Inspection of multi-State co-operative societies
53
80. Inspection of books of indebted multi-State co-operative societies
54
81. Costs of inquiry and inspection
54
82. Recovery of costs
54
83. Repayment, etc.
54 CHAPTER IX SETTLEMENT OF DISPUTES
84. Reference of disputes
55
85. Limitation
57 CHAPTER IXA REDRESSAL OF COMPLAINTS
85A. Co-operative Ombudsman
57 CHAPTER X
WINDING UP OF MULTI-STATE CO-OPERATIVE SOCIETY 86. Winding up of multi-State co-operative societies
58
87. Winding up of co-operative bank at the direction of Reserve Bank
59
88. Reimbursement to the Deposit Insurance Corporation by liquidator
59
89. Liquidator
60
90. Powers of liquidator
60
91. Disposal of surplus assets
62
92. Priority of contributions assessed by liquidator
62
93. Power of Central Registrar to cancel registration of a multi-State co-operative society
62
CHAPTER XI EXECUTION OF DECREES, ORDERS AND DECISIONS 94. Execution of decisions, etc.
62
CONTENTS
I-10 PAGE
95. Execution of orders of liquidators
63
96. Attachment before award
63
97. Central Registrar or arbitrator or person authorised to be civil court for certain purposes
63
98. Recovery of sums due to Government
64
98A. Review of decision
64 CHAPTER XII APPEALS AND REVIEW
99. Appeals
64
100. No appeal in certain cases
65
101. Review
65
102. Interlocutory orders
66 CHAPTER XIII
SOCIETIES WHICH BECOME MULTI-STATE CO-OPERATIVE SOCIETIES CONSEQUENT ON REORGANISATION OF STATES 103. Co-operative societies functioning immediately before reorganisation of States
66
CHAPTER XIV OFFENCES AND PENALTIES 104. Offences and penalties
67
105. Cognizance of offences
73
105A. Provisions of this Act not in derogation of any other law
74
CHAPTER XV MISCELLANEOUS 106. Appointment of Co-operative Information Officer 106A. Copy of rules and bye-laws, etc., for inspection
74 74
107. Place of keeping and inspection of, registers and returns
74
108. Inspection of books of account, etc., of multi-State co-operative society
75
109. Annual accounts and balance-sheet
76
110. Minutes of proceedings of general meetings and of board and other meetings
76
111. Minutes to be evidence
77
I-11
CONTENTS
PAGE
112. Presumptions to be drawn where minutes duly drawn and signed
77
113. Inspection of minutes book of general meetings
77
114. Liquidator to be public servant
77
115. Notice necessary in suits
77
116. Power to amend Schedules
77
117. Bar of jurisdiction of courts
78
118. Indemnity
78
119. Opening of branches
78
120. Filing of returns
78
120A. Filing of applications, documents, inspections, etc., in electronic form
79
120B. Application of Banking Regulation Act, 1949
80
121. Certain Acts not to apply
80
122. Central Government’s power to give directions to specified multiState co-operative societies in public interest
80
123. Supersession of board of specified multi-State co-operative society
81
124. Power to make rules
82
125. Power to remove difficulties
86
126. Repeal and saving
86
FIRST SCHEDULE: Co-operative Principles
87
SECOND SCHEDULE: List of National Co-operative Societies
88
THIRD SCHEDULE
89
SUBJECT INDEX
91
MULTI-STATE CO-OPERATIVE SOCIETIES RULES, 2002 CHAPTER 1 PRELIMINARY 1. Short title and commencement
99
2. Definitions
99 CHAPTER 2 REGISTRATION
3. Application for registration
100
CONTENTS
I-12 PAGE
4. Registration
102
5. Refusal of registration
102
6. Bye-laws
102
7. Refusal of amendment of bye-laws
103
8. Principal place of business and address
103
9. Maintenance of Registration file by the society
103
10. Change in name of Multi-State Co-operative Society
104
11. Conditions to be complied with for membership
104
CHAPTER 2A PRUDENTIAL NORMS FOR MULTI-STATE CO-OPERATIVE SOCIETIES 11A. Prudential norms
105
11B. Restrictions on grant of loans by a multi-State co-operative society
106
CHAPTER 3 FEDERAL CO-OPERATIVES 12. Classification of federal co-operatives
106
CHAPTER 4 MANAGEMENT OF MULTI-STATE CO-OPERATIVE SOCIETIES 13. Annual General Meeting
106
14. Interim board and general meeting for the first election
106
15. Notice for general meeting
107
16. Quorum at a general meeting
107
17. Voting in general meeting
108
18. Minutes of the general meeting
108
19. Composition of Selection Committee
108
19A. Qualification and experience for appointment as Member of Authority
108
19B. Salaries, allowances, and conditions of service of Chairperson, Vice-Chairperson and Members of the Authority
109
19C. Powers and functions of Chairperson
109
19D. Procedure of inquiry against Chairperson, Vice-Chairperson and Members of Co-operative Election Authority
110
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CONTENTS
PAGE
19E. Meetings of Authority
111
19F. Powers and functions of Co-operative Election Authority
111
19G. Procedure for conduct of elections
112
19H. Procedure for conduct of election to the board of multi-State co-operative societies
112
19-I Preparation of list of members and delegates
114
19J. Nomination of candidates
114
19K. Compliance with sections 43 and 44 of the Act
115
19L. Scrutiny of nomination papers
115
19M. Voting
116
19N. Election of office bearers by secret ballot
118
19-O. Admission to the place fixed for counting
119
19P. Rejection of ballot paper
119
19Q. Custody of record of elections conducted
120
19R. Death of candidate before poll
120
19S. Preparation of electronic voting machines for polls
120
19T. Election expenses
121
19U. Account of election expenses
121
19V. Disqualification for failure to lodge account of election expenses
121
19W. Particulars of account of election expenses
121
19X. Notice by Returning Officer for inspection of accounts
122
19Y. Casual vacancies how to be filled in
122
19Z. Maintenance of secrecy of voting
122
20. Officers, etc., at an election, not to act for candidates or to influence voting
123
20A. Functions of Observers
123
20B. Directions by the Co-operative Election Authority
123
21. Terms and conditions of the chief executive
123
CHAPTER 5 PRIVILEGES, PROPERTIES AND FUNDS OF MULTI-STATE CO-OPERATIVE SOCIETIES 22. Certification of copies of entries in books
123
23. Government aid to Multi-State Co-operative Societies
124
24. Distribution of profit to members
124
CONTENTS
I-14 PAGE
25. The Co-operative Education Fund
124
26. Contributory Provident Fund
126
27. Audit and Accounts
127
28. Procedure to be adopted by liquidator
128
29. Application of assets of the Multi-State Co-operative Society
129
30. Disputes
130 CHAPTER 5A CO-OPERATIVE OMBUDSMAN
30A. Appointment and Jurisdiction of Ombudsman
130
30B. Tenure of Ombudsman
131
30C. Office of Ombudsman
131
30D. Officers and staff
131
30E. Complaints or appeals that may be considered by the Ombudsman
131
30F. Nature of complainant or appellant before the Ombudsman
131
30G. Non-maintainability of complaint or appeal
131
30H. Form and manner of complaint or appeal
132
30-I. Procedure for handling complaints and appeals by Ombudsman
132
30J. Appeal to the Central Registrar
133
CHAPTER 6 APPEALS AND REVIEW 31. Appeals
133
32. Procedure regarding appeals
134
33. Application for review
135 CHAPTER 7
SOCIETIES WHICH BECOME MULTI-STATE CO-OPERATIVE SOCIETIES CONSEQUENT ON REORGANISATION OF STATES 34. Preparation of a scheme for the reconstitution or reorganisation of Multi-State Co-operative Societies
136
CHAPTER 8 APPLICATION TO THE CO-OPERATIVE INFORMATION OFFICER 35. Manner of application to the Co-operative Information Officer under sub-section (2) of section 106
136
I-15
CONTENTS
CHAPTER 8A
PAGE
NATIONAL CO-OPERATIVE SOCIETIES 35A. Designation of National Co-operative Society
137
35B. Omission of National Co-operative Societies from Second Schedule
138
CHAPTER 9 MISCELLANEOUS 36. Mode of service of summon
138
37. Procedure in execution of decrees, orders and decisions
139
37A. Recruitment of employees in Co-operative Societies
150
37B. Qualifications for Chief Executive of non-credit multi-State co-operative societies
150
37C. Recovery of proceeds under sub-section (6) of section 104
150
37D. Creation of electronic registry, database or portal by Central Government
150
37E. Manner of filing documents electronically under Act and rules made thereunder
151
37F. Electronic maintenance, registration, and authentication of documents under Act and rules made thereunder
151
37G. Electronic issuance of documents and communication by Central Registrar under section 120A
151
38. Repeal and saving
152
SCHEDULE : [Omitted by the Multi-State Co-operative Societies (Amendment) Rules, 2023, w.e.f. 4-8-2023]
152
FORM I
: Application for Registration of a Multi-State Co-operative Society under the Multi-State Co-operative Societies Act, 2002
152
FORM II
: Register of applications for registration of Multi-State Co-operative societies received by the Central Registrar
154
FORM III
: Nomination form for Elections of Board of Directors
154
FORM IV
: Application for appointing election agent
155
FORM V
: Nomination form for election of office bearers
156
FORM VI
: Form of complaint
157
FORM VII
: Form of appeal against decision of the co-operative information officer
158
FORM VIII : Form of appeal before the central registrar
160
FORM IX
161
: Application to the co-operative information officer
SAMPLE CHAPTER
Multi-State Co-operative Societies Act, 2002* (39 OF 2002) An Act to consolidate and amend the law relating to co-operative societies, with objects not confined to one State and serving the interests of members in more than one State, to facilitate the voluntary formation and democratic functioning of co-operatives as people’s institutions based on self-help and mutual aid and to enable them to promote their economic and social betterment and to provide functional autonomy and for matters connected therewith or incidental thereto. BE it enacted by Parliament in the Fifty-third Year of the Republic of India as follows:— CHAPTER I PRELIMINARY Short title, extent and commencement. 1. (1) This Act may be called the Multi-State Co-operative Societies Act, 2002. (2) It extends to the whole of India. (3) If shall come into force on such date1 as the Central Government may, by notification in the Official Gazette, appoint and different dates may be appointed for different provisions of this Act and any reference in any such provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision. Application. 2. This Act shall apply to— (a) all co-operative societies, with objects not confined to one State which were incorporated before the commencement of this Act,— (i) under the Co-operative Societies Act, 1912 (2 of 1912); or (ii) under any other law relating to co-operative societies in force in any State or in pursuance of the Multi-unit Co-operative Societies Act, 1942 (6 of 1942) or the Multi-State Co-operative Societies Act, 1984 (51 of 1984), * Dated 3-7-2002. 1. With effect from 19-8-2002 vide GSR 571(E), dated 16-8-2002.
1
S. 3
MULTI-STATE CO-OPERATIVE SOCIETIES ACT, 2002
2
and the registration of which has not been cancelled before such commencement; and (b) all multi-State co-operative societies. Definitions. 3. In this Act, unless the context otherwise requires,— (a) “area of operation” means the area from which the persons are admitted as members; [(aa) “Authority” means the Co-operative Election Authority established under sub-section (1) of section 45;]
2
(b) “board” means the board of directors or the governing body of a multiState co-operative society, by whatever name called, to which the direction and control of the management of the affairs of the society is entrusted; (c) “bye-laws” means the bye-laws for the time being in force which have been duly registered or deemed to have been registered under this Act and includes amendments thereto which have been duly registered or deemed to have been registered under this Act; (d) “Central Registrar” means the Central Registrar of Co-operative Societies appointed 3[as per clause (f) of article 243ZH of the Constitution read with sub-section (1) of section 4] and includes any officer empowered to exercise the powers of the Central Registrar under sub-section (2) of that section; (e) “Chief Executive” means a Chief Executive of a multi-State co-operative society appointed under section 51; (f) “co-operative bank” means a multi-State co-operative society which undertakes banking business; [(fa) “Co-operative Ombudsman” means the Ombudsman appointed by the Central Government under section 85A;]
2
(g) “co-operative principles” means the co-operative principles specified in the First Schedule; (h) “co-operative society” means a society registered or deemed to be registered under any law relating to co-operative societies for the time being in force in any State; (i) 4[*** ] (j) “Deposit Insurance Corporation” means the Deposit Insurance and Credit Guarantee Corporation established under section 3 of the Deposit Insurance Corporation Act, 1961 (47 of 1961); 2. Inserted by the Multi-State Co-operative Societies (Amendment) Act, 2023, w.e.f. 3-8-2023. 3. Substituted for “under sub-section (1) of section 4”, ibid. 4. Omitted, ibid. Prior to its omission, clause (i) read as under : ‘(i) “co-operative year”, in relation to any multi-State co-operative society or class of such societies, means the year ending on the 31st day of March of the year and where the accounts of such society or class of such societies are, with the previous sanction of the Central Registrar, balanced on any other day, the year ending on such day;’
3
MULTI-STATE CO-OPERATIVE SOCIETIES ACT, 2002
S. 3
(k) “federal co-operative” means a federation of co-operative societies registered under this Act and whose membership is available only to a co-operative society or a multi-State co-operative society; [(ka) “financial year”, in relation to any multi-State co-operative society or class of such societies, means the year ending on the 31st day of March of the year and where the accounts of such society or class of such societies are, with the previous sanction of the Central Registrar, balanced on any other day, the year ending on such day;]
5
(l) “general body”, in relation to a multi-State co-operative society, means all the members of that society and in relation to a national co-operative society or a federal co-operative means all the delegates of member co-operative societies or delegates of multi-State co-operative societies and includes a body constituted under the first proviso to sub-section (1) of section 38; (m) “general meeting” means a meeting of the general body of a multi-State co-operative society and includes special general meeting; (n) “member” means a person joining in the application for the registration of a multi-State co-operative society and includes a person admitted to membership after such registration in accordance with the provisions of this Act, the rules and the bye-laws; (o) “member co-operative” means a co-operative society or a multi-State co-operative society which is member of a federal co-operative; (p) “multi-State co-operative society” means a society registered or deemed to be registered under this Act and includes a national co-operative society and a federal co-operative; (q) “multi-State co-operative society with limited liability” means a society having the liability of its members limited by its bye-laws to the amount, if any, unpaid on the shares, respectively, held by them or to such amount as they may, respectively, thereby undertake to contribute to the assets of the society, in the event of its being wound up; (r) “national co-operative society” means a multi-State co-operative society specified in the Second Schedule; (s) “notification” means a notification published in the Official Gazette 5[and the expression ‘notified’ with its cognate meanings and grammatical variations shall be construed accordingly]; (t) “officer” means a president, vice-president, chairperson, vice-chairperson, managing director, secretary, manager, member of a board, treasurer, liquidator, an administrator appointed under section 123 and includes any other person empowered under this Act or the rules or the bye-laws to give directions in regard to the business of a multi-State co-operative society; (u) “prescribed” means prescribed by rules; 5. Inserted by the Multi-State Co-operative Societies (Amendment) Act, 2023, w.e.f. 3-8-2023.
S. 3
MULTI-STATE CO-OPERATIVE SOCIETIES ACT, 2002
4
(v) “Reserve Bank” means the Reserve Bank of India constituted under the Reserve Bank of India Act, 1934 (2 of 1934); (w) “rules” means the rules made under this Act. COMMENTS SECTION NOTES
3.1 Definition of “General Body” [Section 3(l)] In relation to a multi-State co-operative society, “general body” means all the members
of that society. In relation to a national co-operative society or a federal co-operative: It means all the delegates of member co-operative societies. It means delegates of multi-State co-operative societies. “General body” includes a body constituted under the first proviso to sub-section (1)
of section 38. 3.2 Definition of “Member” [Section 3(n)] A person joining in the application for the registration of a multi-State co-operative
society. Members includes a person admitted to membership after such registration. This admission must be in accordance with: z The provisions of this Act, z The rules, and z The bye-laws.
3.3 Definition of “Multi-State Co-operative Society with Limited Liability” [Section 3(q)] “Multi-State co-operative society with limited liability” means a society having the
liability of its members limited by its bye-laws: To the amount, if any, unpaid on the shares, respectively, held by them, or To such amount as they may, respectively, thereby undertake to contribute to the
assets of the society: Such limited liability arose in the event of the society being wound up.
3.4 Definition of “Officer” [Section 3(t)] “officer” means: A president, A vice president, A chairperson, A vice-chairperson, A managing director, A secretary, A manager, A member of a board, A treasurer,
5
MULTI-STATE CO-OPERATIVE SOCIETIES ACT, 2002
S. 5
A liquidator, and An administrator appointed under section 123. General category included “Officer” includes any other person empowered under this Act or the rules or the
bye-laws. z This empowerment must be to give directions in regard to the business of
a multi-State co-operative society. CASE LAWS Recovery proceedings – Inapplicability of Debt Recovery Act to Co-operative
Banks - The issue in this case arose when co-operative banks constituted under the Maharashtra and Andhra Pradesh Co-operative Societies Acts and the Multi-State Cooperative Societies Act, 2002 attempted to recover loans under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (RDB Act). The Supreme Court held that co-operative banks, even though involved in banking activities, do not fall under the definition of “banking company” as per section 5(c) of the Banking Regulation Act, and hence are not covered by the RDB Act. It emphasized the clear legislative intent to exclude co-operative banks from the RDB framework, considering they already possess effective and less expensive recovery mechanisms under their respective State Acts or the 2002 Act. The Court rejected the application of the Doctrine of Incorporation to read the provisions of the RDB Act into co-operative banking recovery processes. Thus, co-operative banks must proceed under the mechanisms provided by their respective statutes, and not under the RDB Act. – Greater Bombay Co-operative Bank Ltd. v. United Yarn Tex. Pvt. Ltd. AIR 2007 SUPREME COURT 1584.
CHAPTER II CENTRAL REGISTRAR AND REGISTRATION OF MULTI-STATE CO-OPERATIVE SOCIETIES Central Registrar.
4. (1) The Central Government may appoint a person to be the Central Registrar of
Co-operative Societies and may appoint such other persons as it may think fit to assist the Central Registrar. (2) The Central Government may, by notification, direct that any power exercisable by the Central Registrar under this Act (other than the power of registration of a multi-State co-operative society) shall, in relation to such society, and such matters as may be specified in the notification, be exercisable also by any other officer of the Central Government or of a State Government as may be authorised by the Central Government subject to such conditions as may be specified therein: Provided that no officer of a State Government shall be empowered to exercise such power in relation to a national co-operative society. Multi-State co-operative societies which may be registered. 5. (1) No multi-State co-operative society shall be registered under this Act, unless,— (a) its main objects are to serve the interests of members in more than one State; and
S. 7
MULTI-STATE CO-OPERATIVE SOCIETIES ACT, 2002
6
(b) its bye-laws provide for social and economic betterment of its members through self-help and mutual aid in accordance with the co-operative principles. (2) The word “limited” or its equivalent in any Indian language shall be suffixed to the name of every multi-State co-operative society registered under this Act with limited liability. Application for registration.
6. (1) For the purposes of registration of a multi-State co-operative society under
this Act, an application shall be made to the Central Registrar in such form and with such particulars as may be prescribed. (2) The application shall be signed,— (a) in the case of a multi-State co-operative society of which all the members are individuals, by at least fifty persons from each of the State concerned; (b) in the case of a multi-State co-operative society of which the members are co-operative societies, by duly authorised representatives on behalf of at least five such societies as are not registered in the same State; and (c) in the case of a multi-State co-operative society of which another multiState co-operative society and other co-operative societies are members, by duly authorised representatives of each of such societies: Provided that not less than two of the co-operative societies referred to in this clause, shall be such as are not registered in the same State; (d) in the case of a multi-State co-operative society of which the members are co-operative societies or multi-State co-operative societies and individuals, by at least— (i) fifty persons, being individuals, from each of the two States or more; and (ii) one co-operative society each from two States or more or one multiState co-operative society.
(3) The application shall be accompanied by four copies of the proposed bye-laws of the multi-State co-operative society and the persons by whom or on whose behalf such application is made shall furnish such information in regard to the society as the Central Registrar may require. Registration. 7. (1) If the Central Registrar is satisfied— (a) that the application complies with the provisions of this Act and the rules; (b) that the proposed multi-State co-operative society satisfies the basic criterion that its objects are to serve the interests of members in more than one State; (c) that its bye-laws provide for social and economic betterment of its members through self-help and mutual aid in accordance with the co-operative principles;
MULTI-STATE CO-OPERATIVE SOCIETIES ACT 2002 WITH MULTI-STATE CO-OPERATIVE SOCIETIES RULES 2002 – BARE ACT WITH SECTION NOTES AUTHOR : PUBLISHER : DATE OF PUBLICATION : EDITION : ISBN NO : NO. OF PAGES : BINDING TYPE :
Taxmann's Editorial Board Taxmann December 2025 2026 Edition 9789371263108 180 Paperback
Rs. 235 DESCRIPTION Multi-State Co-Operative Societies Act 2002 with Multi-State Co-Operative Societies Rules 2002 [Bare Act with Section Notes] by Taxmann is a comprehensive legal resource for understanding and complying with the framework for Multi-State Co-operative Societies (MSCS) in India. The 2026 Edition features the latest text of the Act and Rules, updated with all amendments, section-wise notes, key judicial decisions, practical guidance, and prescribed statutory forms—making it an essential reference for legal, regulatory, and administrative needs. This book is intended for the following audience: • Legal Professionals & Consultants • Co-operative Society Management & Officers • Chartered Accountants & Auditors • Government Officials & Regulators • Policy Makers & Researchers • Members & Stakeholders of Co-operatives The Present Publication is the 2026 Edition, covering the amended and updated text of the Multi-State Co-Operative Societies Act [Act No. 39 of 2002] and Rules, with the following noteworthy features: • [Complete Updated Text] Includes the full text of the Act and Rules, with all amend ments up to date • [Section-wise Notes] Practical notes explaining provisions, definitions, and procedures • [Case Law Digest] Summaries of significant Supreme Court and High Court rulings • [Coverage of Recent Amendments] Reflects changes from the 2023 Amendment Act, digital compliance, election authority, and governance reforms • [Practical Guidance] Notes on registration, elections, board functions, audit, disputes, and digital filings • [Prescribed Forms & Schedules] Includes statutory forms for compliance and admin istration • [Comprehensive Reference] Tables, updated schedules, and a detailed subject index for quick access • [Trusted by Professionals] Recognised as an authoritative reference by legal, audit, and regulatory communities
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