PUNJAB CO-OPERATIVE SOCIETIES ACT, 1961

PUNJAB CO-OPERATIVE SOCIETIES ACT, 1961

Preliminary Punjab Act No. 25 of 1961

Chapter.I Preliminary

S.1 Short title, extent and commencement.

S.2 Definitions.

Chapter.II Registration of Co-operative Societies

S.3 Registrar and other officers and their powers.

S.4 Societies which may be registered.

S.5 Restrictions on registration.

S.6 Restrictions on holding of shares.

S.7 Application for registration.

S.8 Registration.

S.9 Registration certificate.

S.10 Amendment of bye-law of a co-operative society.

S.10(a) Power of direct amendment of bye-laws of co-operative society

S.11 Change of name.

S.12 Change of liability.

S.13 Amalgamation, transfer of assets and liabilities and division of co- operative societies.

S.14 Cancellation of registration certificate of co-operative societies in certain cases.

Chapter.III Members of Co-operative Societies and their Rights and Liabilities

S.15 Persons who may become members.

S.15(a) Restrictions on individuals in becoming members of certain co-operative societies.

S.15(b) Provisions or admission as member in the case of certain societies.

S.16 Nominal or associate members.

S.17 Members not to exercise rights till due payments made.

S.18 Votes of members.

S.19 Manner of exercising vote.

S.20 Restriction on transfer of share or interest.

S.21 Transfer of interest on death of members.

S.22 Liability of past members and estate of deceased member.

Chapter.IV Management of Co-operative Societies

S.23 Management of Co-operative Societies

S.24 Annual general meeting.

S.25 Special general meetings.

S.26 Election and nomination of members of committee.

S.26(a) Co- option of members.

S.26(b) Restrictions on membership etc..

S.27 Removal or suspension of committee or member thereof.

S.28 Securing possession of records etc.

S.29 Acts of Co-operative Societies not to be invalidated by certain defects.

Chapter.V Privileges of Co-operative Societies

S.30 Co-operative Societies to be bodies corporate.

S.31 First charge of co-operative society on certain assets.

S.32 Charge on immovable property of members borrowing loans from certain societies.

S.33 Charge and set off in respect of share of contribution or interest of members.

S.34 Share or contribution or interest not liable to attachment.

S.35 Register of members.

S.36 Admissibility of copy of entry as evidence.

S.37 Exemption from compulsory registration of instruments.

S.38 Exemption from certain taxes, fees and duties.

S.39 Deduction from salary to meet co-operative societies' claim in certain cases.

S.40 Other forms of State aid to Co-operative Societies.

Chapter.VI Properties and Funds of Co-operative Societies

S.41 Funds not to be divided by way of profit.

S.42 Contribution to charitable purpose.

S.43 Contribution to Co-operative Education Fund.

S.44 Investment of Funds.

S.45 Restriction on loans.

S.46 Restriction on borrowings.

S.47 Restrictions on other transactions with non-members.

Chapter.VII Audit, Inquiry, Inspection and Surcharge

S.48 Audit

S.49 Inspection of Societies.

S.50 Inquiry by Registrar.

S.51 Inspection of Books of indebited societies.

S.52 Cost of inquiry.

S.53 Recovery of costs.

S.54 Surcharge.

Chapter.VIII Settlement of Disputes

S.55 Disputes which may be referred to arbitration.

S.56 Reference of disputes to arbitration.

Chapter.IX Winding up of Co-operative Societies

S.57 Winding up of co-operative societies.

S.58 Liquidator.

S.59 Powers of Liquidator.

S.60 Priority of contributions assessed by liquidator.

S.61 Powers of Registrar to cancel registration of co-operative society.

Chapter.X Execution of Awards, Decrees, Orders and Decisions

S.62 Enforcement of charge.

S.63 Execution of certain decisions, award and orders.

S.64 Execution of orders of liquidator.

S.65 Attachment before award.

S.66 Registrar or person empowered by him to be civil court for certain purposes.

S.67 Recovery of sums due to Government.

S.67(a) .

Chapter.XI Appeals and Revision

S.68 Appeals.

S.69 Revision.

S.70 Interlocutory order.

Chapter.XI-A Co-operative Banks

S.70(a) Order for winding up reconstruction, supersession of Committee etc. of [insured Co-operative Bank]

Chapter.XII Offences and Penalties

S.71 Offences.

S.72 Cognizance of offence.

S.73 Address of Societies.

S.74 Copy of Act, rules and bye-laws etc. to be open to inspection.

S.75 Prohibition against the use of the word co-operative

S.76 Powers to exempt societies from conditions as to registration.

S.77 Powers to exempt.

S.78 Liquidator to be public servant.

S.79 Notice necessary in suits.

S.80 Companies Act not to apply.

S.81 Saving of existing societies.

S.82 Bar of jurisdiction of courts.

S.83 Powers of Civil Court.

S.84 Indemnity.

S.84(a) Constitution of common cadre of employees of certain societies.

S.84(b) Dearness allowance.

S.85 Rules.

S.86 Repeal and Saving.-

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