| SECTIONS |
Multi-State
Co-operative Societies Act, 2002 |
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Preamble |
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CHAPTER I: PRELIMINARY |
| 1. |
Short title, extent and commencement |
| 2. |
Application |
| 3. |
Definitions |
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CHAPTER II: CENTRAL REGISTRAR AND REGISTRATION
OF MULTI-STATE CO-OPERATIVE SOCIETIES |
| 4. |
Central Registrar |
| 5. |
Multi-State co-operative societies which may be registered |
| 6. |
Application for registration |
| 7. |
Commanding
officer of persons subject to air force law under clause
(d) of section 2 |
| 8. |
Registration certificate |
| 9. |
Multi-State co-operative society to be body corporate |
| 10. |
Bye-laws of multi-State co-operative societies |
| 11. |
Amendment of bye-laws of a multi-State co-operative society |
| 12. |
When amendment of bye-laws comes into force |
| 13. |
Change of name |
| 14. |
Change of address |
| 15. |
Publication of name by multi-State co-operative society |
| 16. |
Liability |
| 17. |
Amalgamation or transfer of assets and liabilities, or division of multi-State co-operative societies |
| 18. |
Central Registrar to prepare scheme of amalgamation or reorganization of a co-operative bank in certain cases |
| 19. |
Promotion of subsidiary institution |
| 20. |
Liability of a co-operative bank to Deposit Insurance and Credit Guarantee Corporation |
| 21. |
Cancellation of registration certificate of multi-State co-operative societies in certain cases |
| 22. |
Conversion of a co-operative society into a multi-State co-operative society |
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CHAPTER III: REGISTRATION AND FUNCTIONS OF FEDERAL
CO-OPERATIVES |
| 23. |
Registration of federal co-operative |
| 24. |
Functions of federal co-operative |
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CHAPTER IV: MEMBERS OF MULTI-STATE CO-OPERATIVE
SOCIETIES AND THEIR DUTIES, RIGHTS AND LIABILITIES |
| 25. |
Persons who may become members |
| 26. |
Nominal or associate member of society |
| 27. |
Educational course for members |
| 28. |
Members not to exercise rights till due payment made |
| 29. |
Disqualification for member of a multi-State co-operative society |
| 30. |
Expulsion of members |
| 31. |
Vote of members |
| 32. |
Manner of exercising vote |
| 33. |
Restriction on holding of shares |
| 34. |
Restriction on transfer of shares or interest |
| 35. |
Redemption of shares |
| 36. |
Transfer of interest on death of members |
| 37. |
Liabilities of past member and estate of deceased member |
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CHAPTER V: DIRECTION AND MANAGEMENT OF MULTI-STATE
CO-OPERATIVE SOCIETIES |
| 38. |
Constitution, powers and functions of general body |
| 39. |
Annual general meeting of general body |
| 40. |
Special general meeting of general body |
| 41. |
Board of directors |
| 42. |
Association of employees in management decision making process |
| 43. |
Disqualifications for being a member of board |
| 44. |
Prohibition to hold office of chairperson or president or vice-chairperson or vice-president in certain cases |
| 45. |
Elections of members of board |
| 46. |
Holding of office in co-operative society |
| 47. |
Removal of elected members by general body |
| 48. |
Nominee of Central Government or State Government on board |
| 49. |
Powers and functions of board |
| 50. |
Meeting of board |
| 51. |
Chief Executive |
| 52. |
Powers and functions of Chief Executive |
| 53. |
Committees of board |
| 54. |
Securing possession of records, etc |
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CHAPTER VI: PRIVILEGES OF MULTI-STATE CO-OPERATIVE
SOCIETIES |
| 55. |
Charge and set-off in respect of share or contribution or interest of members |
| 56. |
Share or contribution or interest not liable to attachment |
| 57. |
Register of members |
| 58. |
Admissibility of copy of entry as evidence |
| 59. |
Exemption from compulsory registration of instruments |
| 60. |
Deduction from salary to meet multi-State co-operative society's claim in certain cases |
| 61. |
Government aid to multi-State co-operative societies |
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CHAPTER VII: PROPERTIES AND FUNDS OF MULTI-STATE
CO-OPERATIVE SOCIETIES |
| 62. |
Funds not to be divided by way of profits |
| 63. |
Disposal of net profits |
| 64. |
Investment of funds |
| 65. |
Restriction on contribution |
| 66. |
Restriction on loans |
| 67. |
Restriction on borrowing |
| 68. |
Restriction on other transactions with non-members |
| 69. |
Contributory provident fund |
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CHAPTER VIII: AUDIT, INQUIRY, INSPECTION AND
SURCHARGE |
| 70. |
Appointment and remuneration of auditors |
| 71. |
Provision as to resolutions for appointing or removing auditors |
| 72. |
Qualifications and disqualifications of auditors |
| 73. |
Powers and duties of auditors |
| 74. |
Signature of audit report, etc. |
| 75. |
Reading and inspection of auditor's report |
| 76. |
Right of auditor to attend general meeting |
| 77. |
Power of Central Government to direct special audit in certain cases |
| 78. |
Inquiry by Central Registrar |
| 79. |
Inspection of multi-State co-operative societies |
| 80. |
Inspection of books of indebted multi-State co-operative societies |
| 81. |
Costs of inquiry and inspection |
| 82. |
Recovery of costs |
| 83. |
Repayment, etc. |
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CHAPTER IX: SETTLEMENT OF DISPUTES |
| 84. |
Reference of disputes |
| 85. |
Limitation |
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CHAPTER XL WINDING UP OF MULTI-STATE CO-OPERATIVE
SOCIETY |
| 86. |
Winding up of multi-State co-operative societies |
| 87. |
Winding up of co-operative bank at the direction of Reserve Bank |
| 88. |
Reimbursement to the Deposit Insurance Corporation by liquidator |
| 89. |
Liquidator |
| 90. |
Powers of liquidator |
| 91. |
Disposal of surplus assets |
| 92. |
Priority of contributions assessed by liquidator |
| 93. |
Power of Central Registrar to cancel registration of a multi-State co-operative society |
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CHAPTER XI: EXECUTION OF DECREES, ORDERS AND
DECISIONS |
| 94. |
Execution of decisions, etc. |
| 95. |
Execution of orders of liquidator |
| 96. |
Attachment before award |
| 97. |
Central Registrar or arbitrator or person authorized to be civil court for certain purposes |
| 98. |
Recovery of sums due to Government |
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CHAPTER XII: APPEALS AND REVIEW |
| 99. |
Appeals |
| 100. |
No appeal in certain cases |
| 101. |
Review |
| 102. |
Interlocutory orders |
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CHAPTER XIII: SOCIETIES WHICH BECOME MULTI-STATE
CO-OPERATIVE SOCIETIES CONSEQUENT ON REORGANISATION OF
STATES |
| 103. |
Co-operative societies functioning immediately before reorganization of States |
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CHAPTER XIV: OFFENCES AND PENALTIES |
| 104. |
Offences and penalties |
| 105. |
Cognizance of offences |
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CHAPTER XV: MISCELLANEOUS |
| 106. |
Copies of bye-laws, etc., to be open to inspection |
| 107. |
Place of keeping and inspection of, registers and returns |
| 108. |
Inspection of books of account, etc., of multi-State co-operative society |
| 109. |
Annual accounts and balance-sheet |
| 110. |
Minutes of proceedings of general meetings and board and other meetings |
| 111. |
Minutes to be evidence |
| 112. |
Presumptions to be drawn where minutes duly drawn and signed |
| 113. |
Inspection of minutes book of general meetings |
| 114. |
Liquidator to be public servant |
| 115. |
Notice necessary in suits |
| 116. |
Power to amend Second Schedule |
| 117. |
Bar of jurisdiction of courts |
| 118. |
Indemnity |
| 119. |
Opening of branches |
| 120. |
Filling of returns |
| 121. |
Certain Acts not to apply |
| 122. |
Central Government's power to give directions to specified multi-State co-operative societies in public interest |
| 123. |
Supersession of board of specified multi-State co-operative society |
| 124. |
Power to make rules |
| 125. |
Power to remove difficulties |
| 126. |
Repeal and saving |
