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ASSAM CO-OPERATIVE SOCIETIES ACT, 1949
(1) This Act may be called the Assam Co-operative Societies Act, 1949.
(2) It extends to the whole of the State of Assam.
(3) It shall come into force on such date as the State Government may appoint.
In this Act, unless there is anything repugnant in the subject of context—
(a) “Administrative Council” means a body intermediary between a Managing Body and the General Assembly of registered society :
(b) “Affiliating Society” means the registered society of which a particular society is a member and “Affiliated Society” means the particular society which is a member of the affiliating society;
(c) “Arbitrator” means a person appointed under the provisions of this Act to decide any dispute referred to him;
(d) “Audit Officer” means a person appointed under the provisions of this Act to audit the accounts of a registered society;
(e) “By-law” refers to the registered bye-laws for the time being in force and includes a registered amendment of bye-laws;
(f) “Co-operative Year” means the period beginning and ending on such dates as m
(1) The State Government may appoint a person to be a Registrar of Co-operative Societies for the Province or any portion of it for the registration, supervision assistance, counsel and control of registered societies and for the development of the co-operative movement and control over all co-operative education and with such other powers and responsibilities as may be provided under this Act or rules or bye-laws framed thereunder.
(2) The State Government may also appoint persons to assist the Registrar and may, by general or special order in writing delegate to any such person or to any other Government officer all or any of the powers of the Registrar under this Act.
(3) The State Government may also appoint non-official helpers with such designations and functions as prescribed to aid in the organisation of Co-operative Societies.
(1) A society which has as its objects the promotion of the economic interests or general welfare of its members or of the public in accordance with the co-operative principles, or a society established with the object of facilitating the operations of any society may be registered under this Act with limited liability.
(2) No society shall be registered if in the opinion of the Registrar, its declared objects are unlikely to be achieved or if it is likely to be economically unsound or if it may have an adverse effect upon any registered society or the co-operative movement as a whole.
No person may be an individual member, of a registered society if he is less than eighteen years of age; provided that the bye-laws of a society may prescribe a higher minimum age.
(1) No society, other than a society of which a member is a registered society, shall be registered under this Act which does not consist of at least ten eligible persons and, in case where the primary object of the society, is the creation of funds to be lent to its members, unless such persons reside in the same town, village or in the same Panchayat Area.
(2) The word “Limited” shall be the last word in the name of every society with limited liability registered under this Act.
(1) No member of a registered society shall hold more than such portion of the share capital of the society as may be prescribed by the rules, or the bye-laws of the society.
(2) No member shall be allowed to acquire an additional share until he has paid in full the value of the whole or that portion of his share holding which he is required to pay in accordance with the bye-laws of his society.
All disputes regarding membership for the purpose of the formation, registration or continuance of a society under this Act shall be decided by the Registrar.
(1) Subject to the proviso to Section 4 and to any rules made in this behalf, a registered society may, with the previous sanction of the Registrar, change its liability from limited to unlimited or from unlimited to limited :
Provided that—
(i) the society shall give notice in writing of its intention to change its liability to all its members and creditors;
(ii) any member of creditor shall, notwithstanding any bye-law or contract to the contrary, have the option of withdrawing his shares, deposits or loans, as the case may be within three months of the service of such notice on him and the change shall not take effect until all such claims have been satisfied; and
(iii) any member or creditor, who does not exercise his option within the period aforesaid, shall be deemed to have assented to the change.
(2) Notwithstanding anything contained in the p
(1) An application for registration shall be made to the Registrar in the prescribed form.
(2) The application shall be signed—
(a) in the case of a society of which no promoter is a registered society, by at least ten eligible persons; and
(b) in the case of a society of which at least one promoter is a registered society, by a duly authorised person on behalf of such registered society and at least one other individual promoter or one other duly authorised person on behalf of another registered society.
(3) The application shall be accompanied by four copies of the proposed bye-laws of the society signed on behalf of the promoters by the president of the inaugural general meeting. Promoters by whom or on whose behalf such application is made shall furnish such information in regard to the society as the Registrar may require and they shall be liable to the full extent of th
(1) The Registrar shall decide all questions as to whether the application complies with the provisions of this Act and rules thereunder and whether the objects of the society are in accordance with Section 4.
(2) When he is satisfied that the application is in order under sub-section (1) and the society and bye-laws are not contrary thereto, he may register the society and bye-laws; provided that the Registrar shall have powers to1 register the bye-laws with such modifications as he thinks are necessary to bring about uniformity in the main with the provisions of the bye-laws of societies which have similar objects or functions.
(3) The Registrar shall endorse the bye-laws in token of registration. Each society shall have a copy of its bye-laws so endorsed.
(4) If the Registrar refuses to register a society or an amendment of the bye-laws of a registered society he shall record his reasons in writi
A certificate of registration signed by the Registrar shall be issued to the society and shall be conclusive evidence that the co-operative society therein mentioned is a co-operative society duly registered under thus Act and that its bye-laws are as attached to the certificate, unless it is proved that the registration of the society has been cancelled or that amended bye-laws have been registered or that the society’s copy of the certificate or bye-laws has been tampered with.
(1) No amendment of the bye-laws of a registered society, whether by way of addition, alteration, omission, recession or change of name shall be valid until such amendment has been registered under this Act.
(2) Every proposal for such amendment shall have to be approved by a resolution at a meeting of the General Assembly in accordance with the bye-laws of the society and be forwarded within a month from the date of the resolution to the Registrar : and if the Registrar is satisfied that the proposed amendment is not contrary to the provisions of this Act or rules, he shall, unless for reasons to be recorded in writing he considers fit to refuse, register the amendment.
(3) When the Registrar registers an amendment of the bye-laws of a registered society, he shall issue to the society a copy of the amendment certified by him, which shall be conclusive evidence that the same has been duly registered, unless it is proved t
(1)
(i) When it appears to the Registrar that an amendment of the bye-laws of a registered society is necessary in the interests of such society or of the co-operative movement as a whole or for the purpose of bringing about uniformity in the main with the provisions of the bye-laws of societies which have similar objects or functions, he may, by an order in writing direct the society to amend its bye-laws in accordance with the amendment drafted and forwarded to the society by him within such time as he may specify in the order.
(ii) If the society fails to make such amendment within the time specified the Registrar shall, after giving the society an opportunity of representing its case, make such amendment himself and register the same. The Registrar shall then forward a copy thereof to the society together with a certificate signed by him which shall be effective as prescribed in Section 13(3).
(1)
(i) Any registered society may, at a meeting of its General Assembly specially called for the purpose resolve to divide into two or more societies. At least fifteen clear days notice of such meeting with the agenda shall be given to its members together with a copy of the proposed resolution.
(ii) Such a resolution shall contain the proposal as to how to divide the assets and liabilities of the society among the newly proposed societies their areas of operation and the members who will constitute each of the newly proposed societies with draft new bye-laws.
(iii) A copy of the resolution shall be sent to the Registrar within thirty days of its adoption and subject to the Registrar’s non-interference within thirty days of the dispatch to him of the resolution the resolution shall be circulated among the members and creditors of the society.
(iv) Notwithstanding any bye-
Notwithstanding anything contained in this Act, in the case of an Insured Co-operative Bank—
(i) an order for the winding up, or an order sanctioning a scheme of compromise or arrangement or of amalgamation or reconstruction (including division or reorganisation) of the bank, may be made only with the previous sanction in writing of the Reserve Bank of India;
(ii) an order for the winding up of the bank shall be made by the Registrar if so required by the Reserve Bank of India in its circumstances referred to in Section 13-D of the Deposit Insurance and Credit Guarantee Corporation Act, 1961;
(iii) if so required by the Reserve Bank of India in the public interest or for preventing the affairs of the Bank being conducted in a manner detrimental to the interests of the depositors or for securing the proper management of the bank, an order shall be made for the supersession of the committee of mana
No member of a registered society shall exercise the rights of a member unless or until he has made such payment to the society in respect of membership or acquired such interest in the society, as may be prescribed by the rules or bye-laws.
(1) Irrespective of the shares he holds in the society and subject to any temporary disqualifications from voting which may be prescribed in bye-laws and to the provisions of Section 31(2) (b) relating to voting by representatives, a member of a registered society shall have one vote only in the affairs of the society : Provided that in the case of an equality of votes the Chairman at any meeting shall have a second or casting vote; Provided further that the bye-laws of a society may provide for more than one vote in the case of an affiliated society.
(2) A registered society which is a member of another registered society, may appoint one of its members qualified under any rule or bye-laws to vote in the affairs of such other society as its representative.
(3) Voting by proxy shall not be allowed except as prescribed in a registered society’s bye-laws : Provided that in registering the bye-laws of a society the Registrar
(1) A full true and accurate statement of his assets including his immovable properties and liabilities shall be furnished—
(a) by an applicant for membership of a registered society with unlimited liability, together with his application;
(b) by a member of registered society with unlimited liability when required to do so by the Registrar or any person authorised by him in this behalf or by the affiliating society.
(2) No member of a registered society with unlimited liability shall be a member of more that one such society.
(3) A member of a registered society with unlimited liability shall furnish to the society full, true and accurate information regarding his intention to transfer his immovable property, in whole or in part by way of sale, mortgage or gift at least fifteen days before completion of each such transaction.
The loan advanced by a registered society to a member thereof shall be utilised by him for the purpose for which it was advanced and for no other purpose. The society shall have power to recover the advance as prescribed if the member does not so utilise it.
(1) The transfer or charge of the share or interest of a member in the capital of registered society, shall be subject to such conditions as to maximum holding as may by prescribed by this Act or by the rules.
(2) Except as otherwise provided in this Act no transfer or charge of his share or interest by a member of society with unlimited liability shall be valid unless—
(a) he has held charge or interest for not less than one year; and
(b) the transferee or mortgagee is either a member of such society or a person whose application for membership has been accepted.
(1) The liability of a past member and of the estate of a deceased member for the debts of a registered society as they existed at the date of his creating to be a member or on his death, as the case may be, shall continue for a period of four years from the said date.
(2) No past member of a registered society with unlimited liability shall be eligible for membership of another such society with unlimited liability except with the special permission of the Registrar.
Notwithstanding anything contained in any law for the time being in force but subject to the provision of Section 44 of this Act, the share or interest of a member in the capital of a registered society or in any fund under Section 53 shall not be liable to attachment or sale under any decree or order of a Court in respect of any debt or liability incurred by such member nor be subject to any claim by a receiver under the Provincial Insolvency Act, 1920 (V of 1920).
If the bye-laws of a registered society so permit, any member of the society may, in accordance therewith nominate a person or persons in whose favour the society shall dispose of the shares or interest of such member on his death.
When a member of a registered society dies, his shares and interest in the society shall subject to the provisions of this Act, be transferred—
(fl) to the person, if any, nominated in accordance with the provisions of Section 23; or
(b) if there be no such nominee or if the nominee is not available or is difficult to be ascertained by the managing body, or if for any other cause such transfer cannot be made without unreasonable delay, difficulty to the person as may appear to the managing body to be the heir or legal representative of the deceased member; provided that ninety days have elapsed from the date of the member’s death. No new claim shall be entertained after the said period of ninety days.
When a member of a registered society is expelled or withdrawn or otherwise ceases to be a member under this Act rules or bye-laws, his share or interest shall be transferred to another eligible person, and the value thereon, determined in accordance with the rules, shall be paid to such ceased member if his share or interest is not forfeited under the provisions of this Act, rules or bye-laws or if he is insane, to any person appointed to manage his properties under the Indian Lunacy Act, 1912 (IV of 1912); provided that if there is no eligible Transferee and if the bye-laws of the society so provide the value of his share or interest determined in accordance with the bye-laws shall be paid to him or, if he is insane, to any person appointed to manage his properties under the Indian Lunacy Act, 1912.
The members of a registered society shall, in the winding up of the society, be jointly and severally liable to contribute towards any deficiency in the assets of the society :
(ii) in the case of a society with unlimited liability—without limit; and
(b) in the case of a society with limited liability—subject to such limitation of amount as may be provided in the bye-laws.
Notwithstanding anything in any law for the time being in force—
(1) a member of a registered society, the object of which is to develop Co-operative or Collective farming, shall not be entitled to transfer his possession or interest in any land held by him under the society, except to the society or with the previous approval of the managing body and in accordance with its bye-laws, to a member thereof or to a person who will be admitted as a member of the society;
(2) on the death of such a member, his possession of an interest in any such land held by him under the society shall come to his nominee in accordance with the provisions of Section 23 or in the first eligible heir according to seniority in age willing to become a member of the society;
(3) if no nominee or heir becomes a member, the possession of an interest in such land of the deceased, shall vest in the society, which shall pay to th
(1) Where’ a mortgage is executed in favour of a registered society for payment of prior debts or part thereof, of the mortgagor secured on the mortgaged, property, the registered society may, notwithstanding the provisions of Sections 83 and 84 of the Transfer of Property Act, 1882 (IV of 1882), by notice in writing and served by registered post with acknowledgment due require, any person to whom any such debt is due to receive payment of such debt or part thereof from the society as its registered office within such period as may be specified in the notice.
(2) The person on whom such notice is served shall be bound to receive payment of the amount offered by the society, but where there is disagreement or dispute between the mortgagor and such person as regards the amount of the debt, or where the society tenders less than the agreed amount of debt, the receipt of the sum offered by the society shall not debar such person from enforcing his
(1) Where land is mortgaged to a registered society, the mortgagor shall not be entitled without the approval of the society to transfer or mortgage his equity of redemption or to create a charge upon or lease out such property for a period exceeding three years.
(2) If the mortgaged property at any time is wholly or partly destroyed or the security is rendered insufficient due to fall in value or for any other reason and the mortgagor having been given a reasonable opportunity by the society of providing for further security sufficient to cover the loan or of repaying the loan with interest or such portion of the loan as may be determined by the supervisory managing or controlling body and the mortgagor having failed to provide such security or repay such portion of the loan, the whole of the loan or such uncovered portion shall be deemed to fall due at once and recoverable through a co-operative demand certificate.
(3)
All payments and transfers made by a registered society under this Chapter, shall be valid and effectual against any demand made upon the society by any other person.
(1) The General Assembly of a registered society shall consist of all those who are eligible to vote at general meeting of the society.
(2) (a) Every member of a registered society and every ex-officio member of the Administrative Council or managing body of such society, unless under some temporary disqualification, shall have the right to attend any general meeting of the society and to exercise his vote at such meeting; Provided that the bye-laws of a registered society may prescribe—
(i) that a registered society affiliated to such society may have more than one representative entitled to vote at general meeting of the society; and
(ii) that only one third of the members of the General Assembly, excluding ex-officio members, may be individual members, the other two-thirds being representatives of affiliated registered societies.
(b) When the bye-laws of a registere
(1) A general meeting to be termed the annual general meeting of the General Assembly of a registered society shall be held at least once in every co-operative year for the purpose of—
(a) electing members to the Administrative Council, managing body and other committees of the society, the Chairman, Vice-Chairman and other office bearers, as may be provided in the bye-laws, and fixing such fees, salaries or other remuneration as prescribed in the bye-laws :
Provided that the State Government may prescribe by rules the tenure of office of the elected members of the Administrative Council, managing body and other Committees and also the qualifications necessary for the office bearers and the employees;
(b) electing internal auditor or auditors who shall not be members of the Administrative Council of governing body, and fixing the remuneration;
(c) considering the annual
(1) A special meeting of the General Assembly shall be called—
(a) at the instance of the Administrative Council or if there be no Administrative Council, of the managing body;
(b) at the request of the Chairman of the society;
(c) on a requisition signed by one-tenth of the members of the General Assembly or twenty members, whichever is less; or
(d) at the instance of the Registrar.
(2) The Registrar himself or any person authorized by him in this behalf in writing may, by special order call a special meeting at the General Assembly at any time and shall call such a meeting upon the failure of the society to call a meeting on the requisition by the members or at the instance of the Registrar under sub-section (1).
(3) Notwithstanding any rule or bye-law prescribing the method of summoning or period of notice for a General As
The management of every registered society shall vest in the managing body of the society except in the case of a society, which for administrative convenience necessitated by reasons such as wide area of operation, that responsibility shall vest in an Administrative Council. The Administrative Council, the managing body and committees of a society shall be constituted in accordance with the bye-laws of the society which shall specify the composition .of such bodies their powers, functions duties, method of summoning meetings and procedure.
The State Government may, on the application of a registered society and on such conditions as may be determined, depute Government officials to the service of the society for the purpose of managing its affairs and the officials shall exercise such powers and perform such duties as may be determined.
Notwithstanding anything contained in any law for the time being in force, the Registrar may at any time direct a particular society or a class of societies to appoint only persons having such qualifications as may be prescribed by him from time.
(1) When the Registrar is satisfied, after an inspection or inquiry under Section 60 or 61 for reasons to b recorded in writing that the Administrative Council managing body or any committee of a registered society is not functioning properly or according to this Act, rules or bye-laws, he may, after giving the offending body an opportunity to State its case, direct under Clause (d) of sub-section (1) of Section 33, that a special general meeting of the General Assembly be called within a time to be specified to dissolve the Administrative Council managing body or committee concerned and to elect a new one; Provided that if in the opinion of the Registrar, it is necessary as an emergent measure to suspend the offending body forthwith, he may do so and shall appoint a person or persons, on such conditions as prescribed by him to be in full control of the suspended body until a new body has been elected or action has been taken in accordance with Section 37.
If the Administrative Council, managing body or any committee, as the case may be, of a society is not dissolved and reconstituted within the time specified by the Registrar under Section 36 he may by order in writing dissolve such body and shall thereupon appoint a person or persons, on such conditions as prescribed by him, to manage the affairs of the society, for such period not exceeding one year where he shall arrange for the constitution of a new body to take the place of the dissolved body. The Registrar may extend this period from time to time as he may deem fit; provided that the aggregate of such periods shall not exceed three years.
The person appointed under Section 37 shall hold office until the Administrative Council, managing body or the committee, as the case may be, as reconstituted or his appointment is cancelled by the Registrar.
During the tenure of office of a person appointed under Section 37 such person shall subject to the control of the Registrar, exercise all the powers and perform all the functions and duties which may be exercised or performed by the superseded body under the provisions of this Act, rules or bye-laws.
(1) Notwithstanding anything contained in this Act, the State Government may, if it is of opinion that the Administrative Council the managing body, and other Committee or body of a registered society is not competent to perform or persistently makes default in the performance of the duties imposed by or under this Act or exceeds or abuses the powers imposed by or under this Act, at any time after giving an opportunity of showing cause against the action proposed, remove any such Council Body or Committee.
(2) The State Government may, at any time, suspend any such Council, Body Committee pending its removal under sub-section (1) from office if in the opinion of the State Government immediate action is necessary and the continuance of such Council, Committee or Body in office is inadvisable on any of the grounds on which it could be removed under sub-section (1) or on the ground of public interest.
(3) When an Administrat
(1) The State Government may, after giving an opportunity of showing cause, remove the Chairman the Vice-Chairman the Secretary and other member or office bearer or employee of a registered society from the office or membership held by him on any one or more of the following grounds, namely :
(a) doing any act in violation of the provisions of the Act, the rules framed thereunder the registered by-laws of the society and other lawful orders of the Government or of the Registrar of Co-operative Societies;
(b) doing any act which is prejudicial to the interest of the Co-operative movement;
(c) misuse and defalcation of funds of the society;
(d) misconduct and willful neglect in the discharge of his duties;
(e) refusal to act or in capability of acting.
(2) The State Government may, at any time, suspend a Chairman a Vice-Chairman a Se
Every registered society shall have a registered address, to which all notices and communications may be sent and shall send notice in writing of every change thereof, within thirty days of such change, to the Registrar and to the affiliating society, if any.
(1) Every registered society shall keep and allow inspection free of charge by any member of the society and such other persons as may be prescribed at all reasonable times at the office of the society—
(a) a copy of this Act;
(b) a copy of the rules framed under this Act;
(c) a copy of the bye-laws of society;
(d) a copy of all rules framed under the bye-laws of the society;
(e) annual balance-sheet authenticated by the Audit Officer; and
(f) such other books, forms, registers or other documents as may be prescribed by the Registrar.
(2) A society shall deliver to every member on payment of a sum prescribed by the society’s bye-laws or rules, copies of documents certified to be true copies.
A registered society may receive deposits and may borrow from its members and from persons who are not members to such extent and on such conditions as may be prescribed in the Act and bye-law.
The State Government may, by general or special order, direct transfer of any Co-operative Society from one financing bank to another after prior consultation with these banks and the society for the purpose of availing finance by the society for its credit and non-credit operation, on such terms and conditions as may be considered necessary.
Notwithstanding anything contained in any law for the time being in force, the State Government may grant loans to, take shares in, guarantee the principal or the interest or both in respect of debentures issued by, or give financial assistance in any other form to any registered society, which puts forward a satisfactory scheme for the utilisation of the funds so raised. The State Government may recover from any society out of its net profit in any year all or any part of such financial assistance.
(1) A registered society shall not give loan—
(a) to any person other than a member except with the general or special sanction of the Registrar; provided that a loan may be given to a depositor of the society out of his deposit; or
(b) to a member in excess either of maximum or of the normal credit determined by the society for that member in accordance with its bye-laws; provided that in assessing normal credit the managing body shall take a full statement as to the member’s means of earning;
(c) on the security of movable property or future movable property, unless the movable property is charged, hypothecated or pledged with the society;
(d) on personal security without sureties, unless the borrowing member has unencumbered immovable property or attachable funded assets sufficient to cover the loan and a full statement of such securities is submitted by the borrower
(1) Every office bearer of a registered society shall produce documents and books of account, cash balance in his custody, and appear before and furnish such information in regard to the transactions or working of the society as may be required of him by the Registrar or persons authorised by the Registrar in this behalf, and audit officer, arbitrary to, liquidator or any persons conducting an inspection or inquiry under the provisions of this act and the rules made thereunder.
(2) (a) At any sale of property, movable or immovable, held under this Act or rules framed thereunder, no office bearer of the registered society concerned or any person having any duty to perform in connection with such sale, shall either directly or indirectly bid for, acquire or attempt to acquire, any interest in such property.
(b) Any office bearer of a society or a liquidator may, on behalf of the society bid and purchase at a sale of mortgag
(1) Notwithstanding anything contained in Sections 60 and 61 of the Code of Civil Procedure, 1908, (V of 1908), any debt or outstanding demand due to a registered society by any member, surety, past member, or the estate of any deceased member shall be a first charge—
(a) if such debt or demand is due in respect of the supply, or any loan to provide the means of such supply, of seed, manure labour, fodder for cattle or any other thing incidental to the conduct of agricultural operations—upon the crops or agricultural produce of such member, past member, or belonging to the estate of such deceased member, at any time within two years from the date of such supply or loan or from the date on which the last instalment of such supply or loan became repayable;
(b) if such debt or demand is due in respect of the supply of, or any loan for the purchase of cattle, agricultural implements or warehouses, for the storage
A registered society shall have a charge upon the share of interest in the capital and on the deposits of a member or past member or deceased member and upon any dividend, bonus or surplus payable to a member or past member or the estate of a deceased member in respect of any debt due from such member or past member or estate of such deceased member to the society and may set off any sum credited or payable to a member or past member, or estate of a deceased member in or towards payment of any such debt.
If a member of a registered society, who is an employee of the Government or any local authority, takes a loan from a society and contracts to repay it by instalments, and authorise the society to recover such instalments by deduction from his salary, the person who disburses any amount payable to such member as salary or remuneration in respect of such employment shall, on demand from the society, deduct the amount of such instalment from the amount disbursed to such member as salary and shall forthwith remit to the society the amount so deducted.
Nothing in Clause (b) and (c) of sub-section (1) of Section 17 of the Indian Registration Act, 1908 (XVI of 1908), shall apply to—
(1) any instrument relating to shares in a registered society, notwithstanding that assets of such society consist in whole or in part of immovable property; or
(2) any debenture issued by any such society and not crediting, declaring assigning, limiting or extinguishing any right, title or interest to or in immovable property, except in so far as it entitles the holder to the security afforded by a registered instrument whereby the society has mortgaged, conveyed or otherwise transferred the whole or part of its immovable property or any interest therein to trustees upon trust for the benefit of the holder of such debentures; or
(3) any endorsement upon or transfer of any debenture issued by any such society:
(4) notwithstanding anything con
(1) Notwithstanding anything contained in the Indian Registration Act, 1908, it shall not be necessary to register mortgages executed in favour of the Co-operative Land Development Bank or a Primary Society of which the majority of the members are agriculturists, for the purpose of securing the repayment of a loan; provided that he Land Development Bank or the Primary Society concerned sends within such time and in such manner, as may be prescribed, a copy of the instrument whereby immovable property is mortgaged for the purpose of securing repayment of the loan to the registering officer within the local limits of whose jurisdiction the whole or any part of the property mortgaged is situate.
(2) On receipt of the copy of the instrument under the preceding sub-section the registering authority shall file a copy or copies, as the case may be, in his Book No. 1 prescribed under Section 51 of the Indian Registration Act, 1908.
(1) The State Government may by general or special order in the case of a registered society or class of registered societies, remit any tax, cess or fee payable under any law for the time being in force or the rules thereunder in respect of which they are competent to remit such tax, cess or fee.
(2) The State Government may, in respect of any registered society or class of registered societies by notification in the official Gazette remit—
(a) the stamp duty other than stamp duties (26 Geo. 5, Ch. 2) falling within item 91 or item 96 in list I in the Seventh Schedule to the Constitution of India in respect of any instrument executed by, or on behalf of, or in favour of, a registered society or by an officer or on behalf of a member thereof, and relating to the business of such society or any class of such instruments, co-operative demand certificates or decisions, awards or orders of Registrar or arbitrators under
(1) A registered society may invest or deposit its funds—
(a) in a Government Savings Bank, or
(b) in any of the securities specified in Section 20 of the Indian Trust Act, 1882, other than those specified in Clause (e) of that section, or
(c) with the sanction of the Registrar, in the shares or debentures or in the security of any other registered society, or
(d) with any registered society, bank or persons carrying on the business of banking approved for this purpose by the Registrar, :or
(e) in any other mode permitted by the bye-laws.
(2) Such investment shall be accounted for separately from the Reserve Fund of the registered society.
(1) Every registered society shall maintain a Reserve Fund [***] and carry to find in each year not less than ‘twenty-five per centime of its net profits.
(2) The Reserve Fund shall be invested separately in any of the ways prescribed in Section 51 or, with the sanction of the Registrar, in immovable property required for the furtherance of the activities of the society. Any such investment shall be deemed to constitute Reserve Fund. No instrument securing a loan on a Reserve Fund shall be valid.
(3) The Reserve Fund shall not be utilised for any purpose whatsoever except with the sanction of the Registrar, who shall accord such sanction only in exceptional circumstances.
After making the allocation to the Reserve Fund as prescribed in Section 52, the remaining net profit of a registered society may be distributed according to the bye-laws of the society :
Provided that a registered co-operative society of which the majority of members are agriculturists and one of the objects is the creation of fund to be lent to its members shall carry not less than 15 per cent of its net profits in any year to the Agricultural Credit Stablisation Fund as may be prescribed.
(1) Save as may be prescribed, no distribution of profit shall be made in the case of a registered society with unlimited liability and no part of the net profit or of a fund of any society shall be divided by way of dividend, bonus, patronage dividend, rebate or otherwise among its members.
(2) No dividend, bonus, patronage dividend, or rebate shall be paid—
(a) otherwise than out of net profits certified by the audit officer or have been actually realised; provided that the advance patronage dividend may be paid in accordance with the directions of the Registrar and on the certificate of an internal auditor approved by the Registrar; or
(b) without the previous sanction of the Registrar, if the audit officer reports that any asset is bad or doubtful and also recommends that such sanction is necessary.
(3) Notwitstanding anything contained in this section payments may b
(1) The Registrar shall audit or cause to be audited by some person authorized by him by general or special order in writing in this behalf, the accounts of every registered society and society under liquidation once at least in every year.
(2) The Registrar or the person authorized by him in this behalf shall at all reasonable times have free access to the books, accounts, documents, securities, cash and other properties belonging to or in the custody of the society and may summon any person in possession or responsible for the custody of any such books, accounts, documents, securities, cash or other properties to produce the same and furnish such information in regard to the transactions and working of the society at any convenient place or at the headquarters of the society or any brand thereof by the same means and, so far as may be, in the same manner as provided in the Code of Civil Procedure, 1908 (V of 1908).
(3)
If at the time of the audit the account of a registered society are not complete, the Registrar or with his sanction, the audit office, may cause the accounts to be written up at the expense of the society.
Such expenses shall at the first instance be met from the grant under the head “Contingencies” by the Registrar and shall be reimbursed later on from the society concerned along with audit fee.
The audit shall include—
(i) a verification of the balance and securities;
(ii) a verification of the balance at the credit of the depositors and creditors and the amounts due from the debtors of the society;
(iii) an examination of overdue debts, if any;
(iv) valuation of the assets including stock verifications, and liabilities of the society :
(v) an examination of the statement of accounts and balance-sheets to be prepared by the managing body of the society in such forms as may be prescribed;
(vi) a certification of the realised profits; and
(vii) any other relevant matter.
The audit officer shall, within a week from the date of completion of audit, submit to the registered society, and to the Registrar, together with the statement of accounts audited, and audit report including a statement of—
(i) every transaction which appears to him to be contrary to law or to the rules or bye-laws;
(ii) every sum which ought to have been but has not been brought into account;
(iii) the amount of deficiency or loss which appears to have resulted from any negligence or misconduct or to require further investigation;
(iv) any money or property belonging to the society which appears to have been misappropriated or fraudulently retained by any person;
(v) any of the assets which appears to him to be bad or doubtful;
(vi) any irregularity in maintaining account; and
(vii) any other relevan
A registered society shall be afforded by the Registrar an opportunity of explaining any defects, or irregularities pointed out and objected to by the audit officer, and thereafter, the society shall, within such time and in such manner as the Registrar, may direct, remedy, such defects and irregularities and report to the Registrar, the action taken by it thereon.
(1) The Registrar may, at any time, of his own motion or shall at the request of the administrative head in charge of the Civil Sub-division or other administrative area, hold an inquiry or direct some person authorized by him by order in writing in this behalf, to hold an enquiry into the constitution, working and financial condition of a registered society.
(2) Such an inquiry shall also be held on the application of—
(i) the affiliating society, if any, of which the society is a member and a debtor;
(ii) a majority of the members of the managing body;
(iii) one-third of the members of the society, who shall have deposited such security for costs, if any, as the Registrar may direct;
(iv) creditors representing not less than one-half of the borrowed capital of the society, who shall deposit such security for costs, if any, as the Registrar may dire
(1) Every registered society shall be liable to inspection at any time by the Registrar or any person authorized by him in this behalf by general or special order; and by any affiliating society, if so provided in its bye-laws.
(2) An inspection of a registered society shall be made by the Registrar or any person authorized by him in this behalf by an order in writing at any time on the application of a creditor of a registered society ;
Provided that no inspection shall be made under this sub-section unless
(i) the creditor deposits with the Registrar such sum as security for the cost of the proposed inspection as the Registrar may require, and
(ii) the creditor satisfies the Registrar that the alleged debt is a sum then due and that he has demanded payment thereof and has not received satisfaction within a reasonable time;
Provided further that no
(i) A financing bank shall have the right to inspect the books of any co-operative society which has either applied to the bank for financial assistance or is indebted to the bank on account of financial assistance granted earlier.
(ii) The inspection may be carried out by an officer or any other member of the paid staff of the financing bank with previous sanction of the Registrar in writing.
(iii) The officer or any other member of the paid staff of the financing bank undertaking such inspection, shall, at all reasonable times, have access to the books of account, documents, securities cash and other properties belonging to or in the custody of the co-operative society inspected by him, and shall also be supplied by such society such information statements and returns as may be -required by him to assess the financial conditions of the society and the safety of the financial assistance to be made to the society or al
(1) When an inquiry is held under Section 60(2) or an inspection is made under Section 61(2), the Registrar may, after giving the parties an opportunity of being heard, apportion the cost or such part of the cost as he may deem fit, between the society the members thereof or the affiliating society or the creditor or creditors applying for such inspection or inquiry as the case may be, and the officers, former officers, members and past members of the society.
(2) No expenditure from the fund of a registered society shall be incurred for the purpose of defraying any cost in support of any appeal preferred by any person other than the society itself against an order under sub-section (1).
(3) Any person authorised by the Registrar under Sections 60 and 61 shall have all the powers of the Registrar when acting under these sections.
(4) Recovery of costs.—Any sum awarded by way of cost under this secti
Any dispute touching the business of a registered society, other than a dispute regarding disciplinary action taken by a society against an employee of the society, or of the liquidator of a society shall be referred to the Registrar for decision if the parties thereto are among the following :
(a) the society, its past or present controlling or managing body, any past or present officer, agent or employee or the liquidator of the society; or
(b) member, past member or persons claiming through a member, past member or deceased member of the society; or
(c); a surety of a member, past member of deceased member of a society; or
(d) any other registered society or the liquidator of the society;
(e) a registered society and a financing bank.
64. Settlement of dispute.—(1) The Registrar shall on receipt of a reference under Section 63—<
(1) The Registrar shall on receipt of a reference under Section 63-
(a) decide the dispute himself or authorise any other Government officer to decide the dispute; or
(b) refer it for disposal to an arbitrator appointed by the Registrar or to three arbitrators one to be nominated by each of the parties to the dispute and the third, who shall be nominated by the Registrar, to act as Chairman. Where any party to the dispute fails to nominate an arbitrator within fifteen days after the communication of his notice, the Registrar may himself make the nomination. No legal practitioner may be nominated as an arbitrator by any party to a dispute or by the Registrar;
(c) an arbitrator appointed under the previous sub-clause shall be governed by the Indian Arbitration Act, 1940 (X of 1940), with such statutory re-enactment or modification thereof as shall, from time to time be made.
(2)
(1) If the Registrar, on receipt of an application made upon a resolution adopted in a meeting of the General Assembly by a three-fourth majority of the members present at the meeting provided that the notice of dissolution was included in the circulated agenda of the meetings, is of opinion that the society ought to be dissolved, he may, by an order in writing cancel the registration of the society.
(2) The Registrar, after an enquiry has been held under Section 60 or after an inspection has been made under Section 61 may cancel the registration of a society which—
(i) has not commenced working; or
(ii) has ceased working; or
(iii) has ceased to comply materially with any condition as to registration in this Act, rules or bye laws; and
(iv) in his opinion ought to be dissolved.
(3) A copy of the order cancelling the registrati
(1) Where an order of cancellation of the registration of a society is made by the Registrar under Section 65, he may appoint any person to be the liquidator of the society and may remove such person and appoint another in his place.
(2) The liquidator appointed under sub-section (1) shall have power from the date of his appointment to take immediate possession of all assets, properties, effects and actionable claims of the society or to which the society is entitled and of all books records, cash and other documents pertaining to the business of the society and, in the interest of the society, shall hold charge of the society notwithstanding the provisions of Section 65; provided that no step shall be taken for the winding up of the society during the pendency of any stay order.
(3) The liquidator shall, under the general control of the Registrar have power so far as is necessary for the winding up of the society, on beh
On dissolution of a society the reserved fund and any undisbursed cash in hand shall be applied to discharging liabilities of the society and the repayment of the share capital. Any sum that may remain may be applied to such object of local and public utility as may be elected by the members of the dissolved society and approved by the Registrar. If within three months of the notice published in the Official Gazette under Section 68, notifying the closing of the liquidation proceedings of the society, the members fail to select any object as aforesaid the Registrar shall, with the approval of the Government, apply the fund to such local public utility as may be determined by him or credit the remaining sum to the reserve fund of a society, to be formed to replace the dissolved society or if there be no such society to any other deserving society existing within the same area of operation and having objects similar to those of the dissolved society or if there be no s
When the affairs of a registered society have been wound up, the liquidator shall make a report to the Registrar, who when satisfied shall order the liquidation proceedings to be closed and direct the liquidator to deposit the records wheresoever, the Registrar thinks fit and the Registrar shall issue a notice in the Official Gazette notifying the closing of the liquidation proceedings of the society.
Save in so far as is expressly provided in this Act, no civil Court shall take cognizance of any matter connected with the winding up or dissolution of a society under this Act and when a liquidator has been appointed no suit or other legal proceedings shall lie or be proceeded with against him except by leave of the Registrar and subject to such terms as he may impose.
Notwithstanding anything contained in Chapter X, the Registrar or such other person as may be authorised by him in this behalf may, on his own motion or on the written requisition of a registered society or an affiliating society or a defaulting member, after making such enquiry as he deems fit, grant a Co-operative Demand Certificate for the recovery of the amount found to be due.
(1) If any instalment of loan or interest payable by a member of a co-operative society of any part of such instalment has remained unpaid for more than 30 days from the date on which it fell due, the managing committee of the society may, in addition to any other remedy available to it, apply to the Registrar or any other officer authorised by him for the recovery of such instalment of part thereof by distrait and sale of the produce of the charged land including the standing crop.
(2) On receipt of such application the Registrar or the person authorised by him may, notwithstanding anything contained in the Transfer of Property Act, 1882 take action in the manner as prescribed for the purpose of distaining and selling such produce ;
Provided that no distrait shall be made after the expiry of twelve months from the date on which the instalment fell due.
(3) The value of the property distained shall
(1) Where, as the result of an audit under Section 55, or an enquiry under Section 60 or an inspection under Section 61 or a report made in the course of the winding up of a registered society, it appears to the Registrar that any member, officer or employee, past or present, of the society has at any time within a period of four years prior to the date of such audit, inspection, inquiry or report, as the case may be—
(a) intentionally, whether individually or as an assenting member of any managing or other controlling body, made or authorised any payment or granted any loan which is contrary to the provisions of this Act or to the rules or bye-laws or failed to take timely steps to recover any loan at the due date or if it was being improperly utilised; or
(b) was grossly negligent in respect of any loss or deficiency; or
(c) failed to bring account any sum which ought to have been brought into acc
(1) No person other than a society registered under this Act, or any other Co-operative Societies Act, shall trade or carry on business under any name or title of which the word “Co-operative” or its vernacular equivalent “Samabaya” is a part:
Provided that nothing in this section shall apply to the use by any person or by his successors in interest of any name or title under which he lawfully traded or carried on business at the commencement of this Act.
(2) Whoever contravenes the provisions of this section shall be punishable with fine which may extend to fifty rupees, and in the case of a containing offence with further fine of five rupees for each day on which the offence is continued after conviction thereafter.
If a registered society or an officer or member thereof or any liquidator,—
(a) wilfully makes a false return or furnishes false information or wilfully neglects or refuses to do any act required by this Act or any rules or bye-laws; or does anything contrary to this Act or the rules or bye-laws; or
(b) any person wilfully or without reasonable excuse disobeys any summons, requisition or lawfully written order issued under the provisions of this Act or does not produce documents or cash balance of the society of furnish any information lawfully required from him by a person authorised in this behalf under the provisions of this Act or fails to maintain up to date account, records and other documents of the society required to be maintained by him under this Act or rules or bye-laws;
he shall be punishable with fine which may extend to five hundred rupees; and in the case of a continuing offence a fu
Any member past member or the nominee, heir or legal representative of a deceased member removing or otherwise disposing of, or suffering to be removed or otherwise disposed of, any property on which a registered society holds a first charge under Section 46 with intent to defraud the society or with such intent doing any other act to the prejudice of the society’s first charge, shall be punishable with fine not exceeding five hundred rupees.
Where it appears to the Registrar that any person has contravened the provisions of this Act, the rules or bye-laws—
(a) by sitting or voting or exercising his rights as a member or as a member of any managing or controlling body, or voting in the affairs of a registered society as a representative of another society which is a member of such society, when such person was not entitled so to sit, vote or exercise such rights, as the case may be, or
(b) by utilising a loan for a purpose different from that for which it was granted.
the Registrar may, after affording such person an opportunity to be heard by an order in writing, direct him to pay from the assets of the society by way of penalty such sum not exceeding fifty rupees as the Registrar thinks fit.
Notwithstanding anything contained in this Act, where any registered society is required to take any action under this Act, the rules or bye-laws and such action is not taken within the time provided in this Act, the rules or bye-laws or within such time as the Registrar may specify by a notice in writing where no time is so provided the Registrar may call upon any officer of the society whom he considers to be responsible for the carrying out the directions, and after giving such officer an opportunity to be heard may require him to pay to the assets of the society such sum not exceeding twenty-five rupees as the Registrar may think fit for each day until the Registrar’s directions are carried out.
(1) No Court inferior to that of a Magistrate of the second class shall try any offence under this Act.
(2) No prosecution for an offence under this act shall be inserted without the previous sanction of the Registrar.
(3) Offences under this Act may be tried summarily.
No suit proceeding or prosecution whatever shall lie against the Registrar or any person act on his authority, or against any liquidator in respect of anything done or purporting to be done in good faith under this Act.
(1) Save as provided in this Act, no Civil or Revenue Court shall have any jurisdiction in respect of—
(a) registration of a registered society or its bye-laws or amendments of bye-laws; or
(b) the dissolution of a managing or controlling body and the management of the affairs of the society on dissolution thereof; or
(c) any dispute referred to the Registrar; or
(d) any matter in relation to the winding up and dissolution of a registered society.
(2) Save as provided in this Act, no order decision or award under this Act, or working of the affairs of a registered society shall be liable to be challenged set aside, modified, revised or declared void in any Court on any ground whatsoever except on grounds of jurisdiction.
(1) Except where otherwise expressly provided to the contrary an appeal shall lie to the Registrar from the decisions made under this Act or rules framed thereunder, by any Government Officer, liquidator or non-official helper appointed under sub-section (3) of Section 3.
(2) The Registrar may review any order passed by him at any time within two months from the communication of such order.
(3) Save as provided in this Act or rules, no appeal shall lie to the State Government against any order of the Registrar except on a question of law, and provided such appeal is preferred within two months of the communication of such order.
(4) Any Appellate Authority and the Registrar in case of review any pass any stay order pending any appeal or review before such an authority and may award cost against any party appealing or petitioning for review if such appeal or review petition is considered false, vexat
Where the Registrar or such gazetted officer as may have powers delegated to him under Section 83 is satisfied that any person holding property within his jurisdiction with intent to defeat or delay the execution of any order, under a co-operative demand certificate for recovery of dues, or with intent to avoid payment of dues from such person under this Act, rules or bye-laws—
(a) is about to dispose of the whole or any part of such property; or
(b) is about to remove the whole or any part of such property from the local limits of the jurisdiction of the Registrar or of such gazetted officer; the Registrar or such gazetted officer may, unless adequate security is furnished, as he may require direct the conditional attachment of the said property or such part thereof as he thinks necessary, notwithstanding that the claimant or owner of the property may reside elsewhere and such attachment shall have the same force and eff
The Registrar or any person empowered by him in this behalf shall be deemed, when exercising any power under this Act for the recovery of any amount by attachment and sale or by the sale without attachment of any property, or when passing any orders on any application made to him for such recovery or to take any step in aid of such recovery, to be a civil Court for the purpose of Article 182 of the First Schedule to the Indian Limitation Act, 1908 (IX of 1908).
(1) All dues recoverable under this Act or rules framed thereunder shall be reduced to the form of a co-operative demand certificate, as in Schedule A over the signature of the Registrar or of such gazetted officers as may have powered delegated to them by the Registrar in this behalf and shall be recovered as an arrear of land revenue and shall be paid to the certificate holder or has authorised nominee. Such certificate shall be in the name of the claimant and shall be delivered to him.
(2) Notwithstanding anything contained in sub-section (1), all the said dues shall also be recoverable as a public demand in accordance with the procedure laid down in the Bengal Public Demands Recovery Act, 1913 (Bengal Act, III of 1913), on a written requisition sent to the certificate officer in the prescribed form over the signature of the Registrar or of such gazetted officer as may have powers delegated to him by the Registrar in this behalf.
(1) A copy of the Co-operative Demand Certificate prepared under Sections 70 and 83 of this Act shall be served in the manner prescribed upon the person from whom the amount is due.
(2) On receipt of a copy of the Co-operative Demand Certificate the person from whom the amount is due shall pay the same within a period of thirty days from the date of service of the Certificate; provided that the period during which the payment is to be made may be extended by the Registrar for another period not exceeding thirty days for reasons to be recorded in writing.
(3) Any person violating the provisions of sub-section (2) above shall on conviction be punished with imprisonment of either description for a term which may extend to sic months or with fine which may extend to one thousand rupees or with both.
(1) Notwithstanding anything contained in this Act, where a compromise or arrangement is proposed between a registered society and its creditor or creditors or any class of them, the Registrar, upon an application made by a registered society or by liquidator in case of a society in respect of which an order has been passed for the winding up thereof, or by a creditor or creditors or any class of creditors may order a meeting of the creditors.
(2) If a majority in number of creditors or the class of creditors, as the case may be, representing claims to three-fourths of the debt due by the society to the creditors or class of creditors, at a meeting agree to any compromise or arrangement and if the Registrar agrees to such compromise or arrangement and gives his sanction then the compromise or the arrangement shall be binding on all the creditors of class of creditors and also on the society or on the liquidator in the case of a society in respe
Every registered society shall be deemed to be a body corporate by the name under which it is registered, with perpetual succession and a common seal, and with power to hold property, to enter into contracts, institute and defend suits and other legal proceedings and to do all things necessary for the purposes for which it was constituted.
Any register or list of members or shares kept by any registered society shall be prima facie evidence of any of the following particulars entered therein ;
(a) the date on which the name of any person was entered in such register or list as a member; and
(b) the date on which any such member ceased to be a member.
(1) A copy of any entry in a book of a registered society, regularly kept in the course of business shall, if certified by the Chairman or Secretary of the society be, received in any suit or legal proceeding as prima facie evidence of the existence of such entry, and shall be admitted as evidence of the matter’s transactions and accounts therein recorded in every case where, and to the same extent as the original entry itself, is admissible.
(2) No officer or liquidator of a registered society and no officer in whose office the books of a registered society are deposited after liquidation shall in any legal proceedings to which the society are the liquidator is not a party, be compelled to produce any of the society’s books the contents of which can be proved tinder sub-section (1) or to appear as a witness to prove the matters, transactions and accounts therein recorded, unless specially so directed by an order of the Court of the arbitrator.
(1) Every society existing at the commencement of this Act which has been registered or deemed to have been registered under the Co-operative Societies Act, 1912 (II of 1912), shall be deemed to be registered under this Act; and its bye-laws shall, in so far as they are not inconsistent with the provisions of this Act, continue in force until altered or rescinded and shall to such extent be deemed to be registered under this Act.
(2) All appointments rules and orders made notifications and notices issued all transactions entered into and all suits and other proceedings instituted under the said Act shall continue and shall, so far as may be, be deemed to have been respectively made, issued, entered into or instituted under this Act.
All references to the Co-operative Societies Act, 1912, occurring in any enactment made by any authority in India and for the time being in force in Assam, shall in the Application of any such enactment thereto, be construed as reference to this Act, and anything done, or any proceeding commenced in pursuance of such enactment on or after the commencement of this Act shall be deemed to have been done or to have commenced and to have had effect as if the reference in such enactment to Co-operative Societies Act, 1912, had been a reference to this Act, and no such thing or proceeding shall be deemed to have been invalid on the ground that such enactment did not refer to this Act.
The provisions of the Indian Companies Act, 1913 shall not apply to registered societies.
(1) No act of a registered society or of a managing or controlling body or of any officer or liquidator done in good faith in pursuance of the business of the society shall be deemed to be invalid by reason only of some defect subsequently discovered in the organisation of the society or in the constitution of any such body or in the appointment or election of the officer of liquidator or on the ground that such officer or liquidator was disqualified from appointment.
(2) No act done in good faith by any person appointed under this Act shall be invalid merely by reason of the fact that his appointment has been cancelled or in consequence of any order subsequently passed under this Act.
(3) The Registrar shall decide whether any act was done in pursuance of the business of a society.
The State Government may, by general or special order, exempt any registered society, or class of registered societies from any of the provisions of this Act or may direct that such provisions shall apply to such society with such modifications as may be specified in the order.
Rules framed under this Act and bye-laws registered under this Act shall not be deemed to go beyond the provisions of this Act if their effect is not to lessen the degree of control expressly provided for in the Act.
Notwithstanding anything contained in this Act, the State Government may by special order and subject to such conditions, if any, as it may impose exempt any society from any of the requirements of this Act as to registration.
Notwithstanding anything contained in any law for the time being in force the State Government may, by a general or special order, require of every registered society or a class of registered societies to make contribution of such sum annually to be fixed by the Registrar towards the recoupment of administrative expenditure incurred by the Government in respect of inspection, supervision and guidance of a society or class of societies or of any service to such society or class of societies.
(1) If the Registrar or any person authorised by him in this behalf, while making audit, inspection, inquiry or supervision, as the case may be, believes or has reason to believe that the registered society is not keeping or maintaining the accounts, books and records of the society properly or finds or reasonably suspects gross negligence of duties, misappropriation or misuse of funds -of the society, irregularity in recording proceedings or keeping accounts or books, he shall have power to take possession of any or all books, registers or documents cash in hand or account books of the society and remove such seized property or keep in proper custody such seized property till it is disposed of in any manner as may be directed by the Registrar.
(2) The person seizing the property of the society under sub-section (1) shall prepare an inventory of the properties seized in duplicate with his signature and require the officer or member of the socie
When a registered society takes loan from an affiliating society and defaults payment of the debt or any instalment thereof, any member of the managing body of the affiliating society, may examine and look into the accounts and working of such borrowing society and report the result of his enquiry or examination particularly with reference to the said loan to the affiliating society and may recommend any suggestion in his report. The borrowing society shall furnish such information and produce such documents, books and accounts as the member of the managing body may require.
(1) Notwithstanding any of the provisions of the Indian Limitation Act, 1908, the period of limitation for the institution of a claim to recover any sum, including the interest thereon, due to a registered society by a member thereof shall be computed from the date on which such member dies or ceases to be a member of a society.
(2) The Indian Limitation Act, 1908, (IX of 1908), shall not apply to any debt or liability due by any member, past member or deceased member to any society in respect of which an order of desolation has been passed under this Act.
The State Government by notification in the official Gazette may exempt a registered society from any or all the provisions of the Assam Money Lender’s Act (Assam Act IV of 1934) for the time being in force.
The State Government may, after previous publication, make rules to carry out the purposes and objects of this Act and such rules may provide a penalty not exceeding fifty rupees for a breach thereof.
The Co-operative Societies Act, 1912 (II of 1912) is hereby repealed in so far as it applies to Assam to the extent specified in column 4 of Schedule B.
SCHEDULE A
FORM (Under Section 83)
Co-operative Demand Certificate granted under Section 83 (1) of the Assam Co-operative Societies Act, 1949 (Act I of 1950) as amended
(To be realised as an arrear of land revenue by the revenue authority within whose jurisdiction the judgment debtor’s property is situated)
Case No.......of 19
District / Sub-division
In the matter of ………………..
Versus
Whereas as a result of any enquiry I decide that a sum of Rs..... (Rupees....................) by way of.,..........under Section 70 of the Assam Co-operative Societies Act, 1949 (Act I of 1950) as amended and a sum of Rs................ (Rupees...................) by way of interest is/are due from you and you have not paid;
Whereas ................. has made a reference in wri
SCHEDULE B
[See Section 10]
Year
#7;No.
#7;Short title
#7;Extent of repeal
#7;
#7;1912
#7;II
#7;The Co-operative Societies Act, 1912
#7;The whole, with the exemption of sub-section (a) of Section 28, and of sub-section (b) of Section 28, so far as it relates to the stamp duties specified in the second paragraph thereof.
#7;
#7;
________
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