Multi-State Cooperative Societies Act, 1984 Multi-State Cooperative Societies Act, 1984 Multi-State Cooperative Societies Act, 1984
 
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Multi-State Cooperative Societies Act, 1984

 

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Multi-State Cooperative Societies Act, 1984 (51 of 1985)

 

Preamble

   
  CHAPTER I: PRELIMINARY
1.

Short title, extent and commencement

2.

Application

3.

Definitions

   
  CHAPTER II : CENTRAL REGISTRAR AND REGISTRATION OF SOCIETIES
4.

Central Registrar

5.

Multi-State Cooperative Societies which may be registered

6.

Application for registration

7.

Registration

8.

Registration certificate

9.

Amendment of bye-laws of a multi-State Cooperative Society

10.

When amendment of bye-laws comes into force

11.

Change of name

12.

Change of address

13.

Liability

14.

Amalgamation or transfer of assets and liabilities or division of multi-State Cooperative Societies

15.

Central Registrar to prepare scheme of amalgamation or reorganisation of cooperative bank in certain cases

16.

Liability of a cooperative bank to the Deposit Insurance and Credit Guarantee Corporation

17.

Cancellation of registration certificate of multi-State cooperative societies in certain cases

18.

Conversion of cooperative society into multi-State Cooperative Society

   
  CHAPTER III: MEMBERS OF MULTI-STATE COOPERATIVE SOCIETIES AND THEIR RIGHTS AND LIABILITIES
19.

Persons who may become members

20.

Members not to exercise rights till due payment made

21.

Expulsion of members

22.

Votes of members

23.

Manner of exercising vote

24.

Restrictions on holding of shares

25.

Restrictions on transfer of shares or interest

26.

Redemption of share

27.

Transfer of interest on death of members

28.

Liability of past member and estate of deceased member

   
  CHAPTER IV: DIRECTION AND MANAGEMENT OF MULTI-STATE COOPERATIVE SOCIETIES
29.

General body, its constitution, powers and functions

30.

Annual general meeting of the general body

31.

Special general meeting of the general body

32.

Board of directors

33.

Association of employees in the management decision making process

34.

Disqualification for a member of a board

35.

Election of members of board

36.

Holding of office in cooperative society

37.

Restrictions on holding of office

38.

Payment of honorarium

39.

Removal of elected members by general body

40.

Removal of member by Central Registrar

41.

Nominee of Central Government or State Government on the board

42.

Powers and functions of the board

43.

Meetings of the board

44.

Chief Executive

45.

Powers and functions of Chief Executive

46.

Committees of the board

47.

Central Government's power to give directions in public interest

48.

Supersession of board

49.

Securing possession of records, etc.

50.

Constitution of body of persons for preparation of list, etc.

51.

Acts of multi-State cooperative societies not to be invalidated by certain defects

   
  CHAPTER V: PRIVILEGES OF MULTI-STATE COOPERATIVE SOCIETIES
52.

Multi-State Cooperative Society to be body corporate

53.

Charge and set off, in respect of share or contribution or interest of member

54.

Share or contribution or interest not liable to attachment

55.

Register of member

56.

Admissibility of copy of entry as evidence

57.

Exemption from compulsory registration of instruments

58.

Deduction from salary to meet multi-State Cooperative Society's claim in certain cases

59.

Government aid to multi-State Cooperative Societies

   
  CHAPTER VI: PROPERTIES AND FUNDS OF MULTI-STATE COOPERATIVE SOCIETIES
60.

Funds not to be divided by way of profit

61.

Disposal of net profits

62.

Investment of funds

63.

Restrictions on loans

64.

Restrictions on borrowing

65.

Restrictions on other transactions with non-members

66.

Contributory Provident Fund

   
  CHAPTER VII: AUDIT, INQUIRY, INSPECTION AND SURCHARGE
67.

Audit

68.

Inspection of multi-State cooperative Societies

69.

Inquiry by Central Registrar

70.

Inspection of books of indebted multi-State cooperative societies

71.

Cost of inquiry and inspection

72.

Recovery of costs

73.

Repayment, etc.

   
  CHAPTER VIII: SETTLEMENT OF DISPUTES
74.

Disputes

75.

Limitation

76.

Settlement of disputes

   
  CHAPTER IX: WINDING UP OF MULTI-STATE COOPERATIVE SOCIETIES
77.

Winding up of Multi-State Cooperative Societies

78.

Winding up of cooperative banks at the direction of Reserve Bank

79.

Reimbursement to the Deposit Insurance Corporation by liquidator

80.

Liquidator

81.

Powers of liquidator

82.

Disposal of surplus assets

83.

Priority of contributions assessed by liquidator

84.

Power of Central Registrar to cancel registration of a multi-State Cooperative Society

   
  CHAPTER X: EXECUTION OF DECREES, ORDERS AND DECISIONS
85.

Execution of decisions, etc.

86.

Execution of orders of liquidator

87.

Attachment before award

88.

Central Registrar or the person authorised by him to be civil court for certain purposes

89.

Recovery of sums due to Government

   
  CHAPTER XI: APPEALS AND REVISION
90.

Appeals

91.

No appeal or revision in certain cases

92.

Revision

93.

Review

94.

Interlocutory orders

   
  CHAPTER XII: SOCIETIES WHICH BECOME MULTI-STATE COOPERATIVE SOCIETIES CONSEQUENT ON REORGANISATION OF STATES
95.

Cooperative societies functioning immediately before re-organisation of States

   
  CHAPTER XIII: OFFENCES AND PENALTIES
96.

Offences

97.

Cognizance of offences

   
  CHAPTER XIV: MISCELLANEOUS
98.

Copy of Act, rules and bye-laws etc., to be open to inspection

99.

Power to exempt multi-State Cooperative Societies from conditions as to registration

100.

Liquidator to be public servant

101.

Notice necessary in suits

102.

Certain Acts not to apply

103.

Savings of existing multi-State Cooperative Societies

104.

Power to amend second Schedule

105.

Bar of jurisdiction of courts

106.

Powers of civil court

107.

Indemnity

108.

Opening of branches

109.

Power to make Rules

110.

Repeal

   
 

FIRST SCHEDULE

 

SECOND SCHEDULE

 

Multi-State Cooperative Societies Act, 1984 (51 of 1985)

 

 

 

 

 

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