The Gujarat Co-operative Societies Act, 1961

Gujarat Act No. X of 1962

1st March, 1962

An Act to consolidate and amend the Law relating to co-operative societies in the State of Gujarat.

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1 Short title, extent and commencement

2 Definitions

3 Registrar and other officers and their powers

4 Societies which may be registered

5 Registration with limited or unlimited liability

6 Conditions of registration

7 Power to exempt societies from conditions as to registration

8 Application for registration

9 Registration and provisional registration, certificate of registration

10 Register of societies

11 Power of Registrar to decide certain questions

12 Classification of societies

13 Amendment of bye-laws of society

14 Power to direct amendment of bye-laws

15 Change of name

16 Change of liability

17 Amalgamation, transfer, division or conversion of societies

17A Powers to direct amalgamation and re-organisation of societies in public interest, etc.

18 Cancellation of registration of amalgamated, divided or converted societies

19 Reconstruction of societies

20 Cancellation of registration

21 Partnership of societies

22 Person who may become member

23 Removal from membership in certain circumstances

24 Open membership

25 Nominal associate and sympathiser member

26

27 28 Voting powers of members

29 Restrictions on holding shares

30 31 Restrictions on transfer of share or interest

32 Transfer of interest on death of member. Shares or interest not liable to attachment

33 Liability of person who has ceased to be member

34 Insolvency of members

35 Expulsion of members. Register of members

36 37 Societies to be bodies corporate

38 Address of societies

39 Register of members

40 Copy of Act, etc. to be open to inspection

41 Admissibility of copy of entry as evidence

42 Exemption from compulsory registration of instruments relating to shares and debentures of society

43 Power to exempt from taxation

44 Restriction on borrowings

44A Power of Committee of co-operative credit structure

45 Restrictions on making loans

46 Restrictions on other transactions with non-members

47 Prior claim of society

48 Charge and set off in respect of share or interest of member

49 Charge on immovable property of members borrowing from certain societies

50 Deduction from salary to meet society’s claim in certain cases

51 Direct partnership of State Government in societies

52 Indirect partnership of State Government in societies

53 Principal State Partnership Fund

54 Subsidiary State Partnership Fund

55 Approval of State Government for purchase of shares

56 Liability to be limited in respect of certain shares

57 Restriction on amount of dividend

58 Disposal of share capital and dividend, etc.

59 Indemnity of Apex and Central Societies

60 Disposal of Principal or Subsidiary State Partnership Fund on winding up of Apex or Central Society

61 Principal or Subsidiary State partnership Fund not to form part of assets

62 Agreement by State Government and Apex Societies

63 Other forms of State aid to societies

64 Provisions of this Chapter to override other laws

65 Fund not to be divided

66 Appropriation of profits

67 Reserve Fund

67A Bad Debt Reserve Fund

68 Restriction on dividend

69 Contribution to education fund of Gujarat State Co-operative Union

70 Contribution to public purpose

71 Investment of funds

72 73 Final authority of society

73A Freedom for affiliation or disaffiliation with a federal society of choice

74 Committee, its powers and functions

74A Disqualification for being designated officer simultaneously of certain specified societies or for being designated officer of the same society for more than six years

74B Reservation of seats on committees of certain societies, for Scheduled Castes and Tribes and small and marginal farmers

74C Provision for conduct of elections committees, of the societies of the categories mentioned below shall committees and term of office of member of committee

74D Appointment of custodian in certain circumstances

75 Restriction on rates of sitting fees and travelling and daily allowances of members. Of Committee

75A Handing over records and property to new Chairman on election

76 Appointment of officers and employees and their conditions of service

76A Appointment of removal of Managing Director or Chief Executive Officer to be approved

76B Removal of officer

77 Annual general meeting

78 Special general meeting

80 Acts of societies etc. not to be invalidated by certain defects. Power to appoint Government nominee

80A Extension of term of nominated committee or appointment of custodian

81 Supersession of committee

82 Registrar’s power to enforce performance of obligation

84 Registrar’s power to seize records, etc

85 Rectification of defects in accounts

86 Inquiry by Registrars

87 Inspection of book of indebted society

88 Inspections of books by Registrar or financing bank or federal society

89 Suspension of officer or servant of society

90 Costs of inquiry and inspection

91 Mode of recovery of sums imposed as penalty or awarded as costs

92 Registrar to bring defects disclosed in inquiry or inspection to notice of society

93 Power of Registrar to assess damages against delinquent, promoters, etc.

94 Power to enforce attendance etc.

95 Constitution or recognition of federal society to supervise working of societies

96 Disputes

97 Limitations

98 Settlement of disputes

99 Procedure for settlement of disputes and power of Registrar or nominee or board of nominees

100 Attachment before award

101 Decision of Registrar or his nominee or board of nominees

102 Appeal against decision of Registrar or his nominee or board of nominees

103 Money how recovered

104 Private transfer of property made after issue of certificate void against society

105 Transfer of property which cannot be sold

106 Recovery of crop loans

107 Winding up

108 Appointment of Liquidator

109 Appeal against order of winding up

110 Power of Liquidator

111 Effects of order winding up

112 Audit of Liquidator’s accounts

113 Bar of suit in winding up and dissolution matters

114 Termination of liquidation

115 Disposal of surplus assets

115A Order for winding up, reconstruction, supersession of committee, etc. of insured co-operative bank not to be made without sanction or requisition of Reserve Bank of India

115B Definitions

115C Qualifications and disqualifications for being committee member

115D Right to vote

115E Term of office of officers

115F Ensurance of certain things by committee

115G Urban Bank Credit Equalization Fund

115H Offences and their punishment and cognizance

115I Application of the provisions of section 84 to specified bank

115J Chapter to override other provisions of Act

115K Chapter to override other provisions of Act

115L Savings

116 Application of chapter to certain Land Development Banks

116a

117 Definitions

118 Appointment, powers and functions of Trustee

119 Issue of debentures

120 charge on assets

120a

121 Vesting of property in trustee and debenture holders

122 Priority of mortgage

123 Order granting loans conclusive of certain matters

124 Mortgages executed in favour of Primary Land Development Banks to stand vested in State Land Development Bank

125 Registration of mortgage in favour of Land Development Banks

126 Mortgages not to be questioned on insolvency of Mortgagors

127 Right of land development bank to pay prior debts of mortgagor

128 Mortgages executed by managers of joint Hindu Families

129 Restrictions of lease

130 Power of Primary Land Development Bank to receive money and give discharge

131 Section 8 of Act XXXII of 1956 to apply to mortgages to Land Development Banks, subject to certain modifications

132 Power of land Development Bank where mortgage property is destroyed or security becomes insufficient

133 Power to distrain

134 Sale of mortgaged property

135 Right of mortgage bank to buy mortgaged property

136 Confirmation of sale

137 Disposal of sale proceeds

138 Certificate to purchaser, delivery of property and title of purchaser

139 Recovery of loans on Certificate by Registrar

140 Collector to make recoveries during certain period

141 142 Exemption of Land Development Bank from personal appearance before registering officers

143 Provision of guarantee funds to meet certain losses

143A Transfer of rights and liabilities of Government in respect of schemes sanctioned under Bom. XXVIII of 1942

144 Agreements executed by members for loans advanced by Land Development Banks to be conclusive evidence

145 Officers of banks not to bid at sales

145A Application

145B Definitions

145C Time when election to be held

145D Conduct of elections

145E Cost of conducting elections

145F Disqualification for membership

145G Account of election expenses maximum thereof and lodging of account

145H Disqualification for failure to lodge account of election expenses

145I Removal or reduction of period of disqualification

145J Corrupt practices

145K Officers etc. at election not to act for candidates or to influence voting

145L Maintenance of secrecy of voting

145M Prohibition of canvassing in or near polling station

145N Penalty for disorderly conduct in or near polling station

145O Penalty for misconduct at the polling station

145P Breaches of official duty in connection with election

145Q Penalty for illegal hiring or procuring of conveyances at elections

145R Removal of ballot papers from polling station to be offence

145S Other offences and penalties therefor

145T Application of section 149 to offences under this Chapter subject to certain modifications

145U Disputes relating to elections to be submitted to the Tribunal

145V Deposit towards cost for hearing and power to award cost

145W Contents of petitions

145X Relief that may be claimed by the petitioner

145Y Power to make rules for purposes of this Chapter

145Z Special provision for election of officers of specified societies

146 Offences

147 Offences

148 Punishments for offences under section 147

149 Cognizance of offences

150 Gujarat State Co-operative Tribunal

151 Review of orders of Tribunal

152 Tribunal to have power of Civil Court

153 Appeals

154 Extension of period of limitation by appellate authority in certain cases

155 Power of State Government and Registrar to call for proceedings of subordinate officers and to pass order hereon

156 Constitution of State Co-operative Council, its functions etc.

157 Competency of a member to transfer land or interest therein to society

158 Recovery of sums due to Government

159 Registrar’s powers to recover certain sums by attachment and sale of property

160 Registrar’s power to give directions

161 Power to exempt societies from provisions of Act

162 Delegation of powers of State Government and of Registrar

163 Branches etc. of societies outside the State

164 Registrar and other officers to be public servants

165 Indemnity for acts done in good faith

166 Bar of jurisdiction of Courts

167 Notice necessary in suits

168 Rules

169 Repeal, saving and construction

170 Companies Act not to apply

Transitory provision

S.Chapter I PRELIMINARY

S.1 Short title, extent and commencement

S.2 Definitions

S.Chapter II REGISTRAR AND REGISTRATION

S.3 Registrar and other officers and their powers

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