Rules 1 the 4state government may, for the whole or any part of the 5state and for any registered society or class of such. Formation of a cooperative society a cooperative society can be formed as per the provisions of the cooperative societies act, 1912. Ministry of home affairs notification new delhi, the 18th. Whereas it is expedient further to facilitate the formation of co operative societies for the promotion of thrift and selfhelp among agriculturists, artisans and persons of limited means, and for that purpose to amend the law relating to co operative societies. Co operative legislations co operative credit societies act, 1904 features, cooperative societies act, 1912 features, kerala co operative societies act, 1969 features, multistage co operative societies act, 1984 and its replacement model co operative act in 2002 features. Acts of cooperative societies not to be invalidated by certain defects. In india, the cooperative societies are registered under the cooperative societies act, 1912, or the relevant state cooperative societies act, as the case may be. Cooperative society is a special type of business organisation different from other forms of organisation.
Financial accounting cooperative societies tutorialspoint. This act extends to the whole of the province of west pakistan, except the tribal areas. Construction of references to cooperative societies act, 1912 in enactments. The cooperative societies act 1912 indian bare acts india. Ii of 1912 1st march, 1912 an act to amend the law relating to cooperative societies. Let us take a brief look at their features and some types of societies. Societies act, 1912, the words and figures manipur cooperative societies act. Registration of cooperative societies formalities, bye law.
This video describes cooperative movement in india. Full text containing the act, cooperative societies act, 1912, with all the sections, schedules, short title, enactment date, and footnotes. Feb 21, 2015 formation of a co operative society a co operative society can be formed as per the provisions of the cooperative societies act, 1912. Power of registrar to cancel registration of a cooperative society. Assessment of cooperative societies and cooperative banks. Cooperative societies act 1968 nlcd 252 section 1the registrar of cooperative societies. Short title and extent 1 this act may be called the cooperative societies act, 1912.
On registration, the society becomes a body corporate, having a separate legal entity of its own, with perpetual succession and limited liability of its members. By law, may be framed by each society and should be registered with the cooperative societies. Ii of 1912 1st march, 1912 an act to amend the law relating to co operative societies. The multistate cooperative societies act, 2002 contents. In madres, madras cooperative societies act, 1932 and the madras co operative land mortgage banks act, 1934 were passed.
A cooperative society must be registered under the cooperative societies act, 1912 or under a state cooperative societies act. Registration of co operative societies formalities, bye law. Subject to the provisions of this act a society may be. Any ten persons who are competent to contract may file an application to the registrar of cooperative societies as per section 6 of the cooperative societies act, 1912. Section 4 of the cooperative societies act, 1912 defines cooperatives as asociety which has in its objectives the promotion of economic interest of its members in accordance with cooperative principles. This act has been declared to be in force in the sonthal parganas by notification under s. Section 45 in the cooperative societies act, 1912 45. This act may be called the cooperative societies act, 1925. At least ten persons above of 18 years, having the capacity to enter into a contract with common economic objectives, like farming, weaving, consuming, etc.
The cooperative societies act, 1925 to facilitate the. Restrictions on interest of member of society with limited liability and a share capital. The institute of chartered accountants of india set up by an act of parliament new delhi. Jun 20, 2019 this video describes co operative movement in india. By law, may be framed by each society and should be registered with the co operative societies. While the 1932 act conferred more power on the registrar with regard to the recovery of bad debts, audit, supervision and control, the 1934 act provided for longterm credit through cooperative land mortgage banks. Handbook on cooperative society non profit organisations. Any ten persons who are competent to contract may file an application to the registrar of co operative societies as per section 6 of the co operative societies act, 1912. In order to bring the noncredit societies also within its ambit, the cooperative societies act, 1912 was enacted. A co operative society must be registered under the co operative societies act, 1912 or under a state co operative societies act.
Special features of cooperative audit most important 1. Registrar of cooperative societies for jamaica and may appoint persons to assist such registrar and may by general or special order published in the gazette, confer on any such persons all or any of the powers of a registrar under this act. Cooperative societies 7 issue 1 chapter 490 cooperative societies act date of assent. Co operative societies 7 issue 1 chapter 490 co operative societies act date of assent. At least ten persons having the capacity to enter into a contract with common economic objectives, like farming, weaving, consuming, etc. Observations of the provisions of the act and rules an auditor of a cooperative society is required to point out the infringement with the provisions of cooperative societies act and rules and byelaws. Rules 1 the 4state government may, for the whole or any part of the 5state and for any registered society or class of such societies, make rules to carry out the purposes of this act. The institute of chartered accountants of india may not necessarily subscribe to the views expressed by the authors. As such, each state has its own version of model byelaws which you are required to follow as a member of a cooperative housing society. Whereas it is expedient further to facilitate the formation of cooperative societies for the promotion of thrift and selfhelp among agriculturists, artisans and persons of limited means, and for that purpose to amend the law relating to cooperative societies. This act may be cited as the cooperative societies act. Other than that, below listed are some legislations that you could read up on. Provided that nothing in this subsection shall apply to the use by any person or his successor in interest of any name or title under which he traded or carried on business at the date on which the cooperative societies act, 1912 and the cooperative credit societies act, 23f.
Co operative societies act 1912, 1950 for national level legislation and policies 2. In india, the co operative societies are registered under the co operative societies act, 1912, or the relevant state co operative societies act, as the case may be. To facilitate the formation and working of cooperative societies for the promotion of thrift. At least ten persons above of 18 years, having the capacity. This act may be cited as the co operative societies act. An act to make provision for the constitution, registration and control of cooperative societies. Such societies have unique features of joint ownership and democratic leadership. The co operative societies act, 1912 tnau agritech portal. Cooperative legislations cooperative credit societies act, 1904 features, cooperative societies act, 1912 features, kerala cooperative societies act, 1969 features, multistage cooperative societies act, 1984 and its replacement model cooperative act in 2002 features. In this act, unless there is anything repugnant in the subject or context. This act may be called the 5 cooperative societies act, 1925. Although voluntary in their basic character, the co operative societies are subject to considerable state control and supervision. Cooperative societies act singapore statutes online.
All you need to know about cooperative housing societies in. Act, 1912 2 of 1912, or under the bombay cooperative societies act, 1925 bom. Assam cooperative societies act, 1949 assam act no. The cooperative societies act, 1912 legislation vlex. An act to amend the law relating to cooperative societies. An act of parliament relating to the constitution, registration and regulation of cooperative societies and for purposes incidental thereto.
Restrictions on interest of member of society with limited liability and a share. The next addition was the cooperative societies act, 1912, which focussed on the need for regulation of such societies and hence the establishment of appropriate bodies to oversee their functioning. Cooperative societies act, 1912 tax management india. Cooperative societies act, 1912 mylegalwork online.
Cooperative societies act, 1912 bare acts law library. It prevails in all the countries, this is almost a. In this act, unless the context otherwise requiresinterpretation. Registrar of co operative societies for jamaica and may appoint persons to assist such registrar and may by general or special order published in the gazette, confer on any such persons all or any of the powers of a registrar under this act. Power to exempt societies from conditions as to registration. Cooperative society means a society registered under the cooperative societies act, 1912 ii of 1912 or under any other law for the time being in force in any state for the registration of cooperative societies section 2191. Cooperative society registered under cooperative societies act, 1912 or under any other law for the time being in force for the registration of cooperative societies.
The cooperative societies act of 1912, further gave recognition to the formation of noncredit societies and the central cooperative organizations. The cooperative societies act 1912 indian bare acts. Wh an act to amend the law relating to co operative societies. The views expressed in this guide are those of authors. An act to amend the law relating to co operative societies. Bestrictions on interest of member of society with lin. Notwithstanding anything contained in this act, the 28 state government may, by special order in each case and subject to such conditions, if any, as it may impose, exempt any society from any of the requirements of this act. An act of parliament relating to the constitution, registration and regulation of co operative societies and for purposes incidental thereto. The working of a cooperative society is governed by the cooperative societies act, 1912. The cooperative societies act 1912 for ios free download. This act confined itself only to primary credit societies. The aim of a cooperative society is to protect the economic interests of members in the face of possible exploitation at the hands of middlemen obsessed with the desire to earn greater profits.
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