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. Societies act, 1912, the words and figures manipur cooperative societies act. Cooperative societies act singapore statutes online. A co operative society can be formed as per the provisions of the co operative societies act, 1912. All you need to know about cooperative housing societies in. Ministry of home affairs notification new delhi, the 18th.
An act to amend the law relating to co operative societies. 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. 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. 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.
Such societies have unique features of joint ownership and democratic leadership. Construction of references to cooperative societies act, 1912 in enactments. Although voluntary in their basic character, the co operative societies are subject to considerable state control and supervision. Power to exempt societies from conditions as to registration. 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. Although voluntary in their basic character, the cooperative societies are subject to considerable state control and supervision. A cooperative society can be formed as per the provisions of the cooperative societies act, 1912. In order to bring the noncredit societies also within its ambit, the cooperative societies act, 1912 was enacted. Cooperative society is a special type of business organisation different from other forms of organisation. 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.
Assam cooperative societies act, 1949 assam act no. Ii of 1912 1st march, 1912 an act to amend the law relating to co operative societies. Bestrictions on interest of member of society with lin. To facilitate the formation and working of cooperative societies for the promotion of thrift. Construction of references to cooperative societies act, 1912, in enactments. Cooperative societies an act respecting the registration, supervision and management of cooperative societies, the members of which have a common bond of philosophy and social and economic objectives assent 29th september, 2005 commencement 4th october, 2005 1. It prevails in all the countries, this is almost a.
Cooperative societies act, 1912 bare acts law library. Subject to the provisions of this act a society may be. 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. The cooperative societies act of 1912, further gave recognition to the formation of noncredit societies and the central cooperative organizations. 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. Wh an act to amend the law relating to co operative societies. Jun 28, 2019 as such, each state has its own version of model byelaws which you are required to follow as a member of a co operative housing society. 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. 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. Other than that, below listed are some legislations that you could read up on.
Co operative societies act 1912, 1950 for national level legislation and policies 2. The institute of chartered accountants of india set up by an act of parliament new delhi. An act to make provision for the constitution, registration and control of cooperative societies. Act, 1912 2 of 1912, or under the bombay cooperative societies act, 1925 bom. By law, may be framed by each society and should be registered with the cooperative societies. Registration of co operative societies formalities, bye law. 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.
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. 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. 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. The cooperative societies act 1912 indian bare acts. In this act, unless the context otherwise requiresinterpretation. Full text containing the act, cooperative societies act, 1912, with all the sections, schedules, short title, enactment date, and footnotes. The working of a cooperative society is governed by the cooperative societies act, 1912.
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. Cooperative societies 7 issue 1 chapter 490 cooperative societies act date of assent. The institute of chartered accountants of india may not necessarily subscribe to the views expressed by the authors. Handbook on cooperative society non profit organisations. This act extends to the whole of the province of west pakistan, except the tribal areas.
This act may be cited as the cooperative societies act. The cooperative societies act, 1912 legislation vlex. 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. Section 45 in the cooperative societies act, 1912 45. Formation of a cooperative society a cooperative society can be formed as per the provisions of the cooperative societies act, 1912. Restrictions on interest of member of society with limited liability and a share capital. Co operative societies 7 issue 1 chapter 490 co operative societies act date of assent. Cooperative societies act, 1912 mylegalwork online. In madres, madras cooperative societies act, 1932 and the madras co operative land mortgage banks act, 1934 were passed. In this act, unless there is anything repugnant in the subject or context. 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. The cooperative societies act 1925 punjab laws online. At least ten persons above of 18 years, having the capacity.
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. Short title and extent 1 this act may be called the co operative societies act, 1912. This act may be called the cooperative societies act, 1925. The cooperative societies act, 1925 to facilitate the. Restrictions on interest of member of society with limited liability and a share. An act to amend the law relating to cooperative societies. 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.
This act has been declared to be in force in the sonthal parganas by notification under s. There shall be appointed by the national liberation council an officer who shall be called the registrar of cooperative societies in this decree referred to as the registrar and such other. A co operative society must be registered under the co operative societies act, 1912 or under a state co operative societies act. A cooperative society must be registered under the cooperative societies act, 1912 or under a state cooperative societies act. This act may be cited as the co operative societies act. Cooperative societies act, 1912 tax management india. This video describes cooperative movement in india. 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. 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.
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. The cooperative societies act 1912 for ios free download. Registration of cooperative societies formalities, bye law. Cooperative societies act 1968 nlcd 252 section 1the registrar of cooperative societies. Special features of cooperative audit most important 1.
Jun 20, 2019 this video describes co operative movement in india. An act of parliament relating to the constitution, registration and regulation of co operative societies and for purposes incidental thereto. 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. At least ten persons having the capacity to enter into a contract with common economic objectives, like farming, weaving, consuming, etc. An act of parliament relating to the constitution, registration and regulation of cooperative societies and for purposes incidental thereto. Short title and extent 1 this act may be called the cooperative societies act, 1912. 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.
Let us take a brief look at their features and some types of societies. The views expressed in this guide are those of authors. Ii of 1912 1st march, 1912 an act to amend the law relating to cooperative societies. Acts of cooperative societies not to be invalidated by certain defects. This act may be called the 5 cooperative societies act, 1925. This act confined itself only to primary credit societies. The multistate cooperative societies act, 2002 contents. The co operative societies act, 1912 tnau agritech portal. Assessment of cooperative societies and cooperative banks. Financial accounting cooperative societies tutorialspoint.
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