Amendment status not verified — confirm the current text below against the official source.
Election and nomination of members of committees:- (1) The members of the committee of a co-operative society shall be elected in the prescribed manner and no person shall be so elected unless he is a shareholder of the society. (2) Notwithstanding anything contained in sub-section (1)- (a) where the Government has subscribed to the share capital of a co- operative society, the Chief Commissioner or any person authorized by the Chief Commissioner in this behalf shall have the right to nominate on the committee such number of persons not exceeding three or one-third of the total number of members thereof, whichever is less, as the Chief Commissioner or such authorized person may determine: (b) Where the industrial Finance Corporation established under section 3 of the industrial Finance Corporation Act, 1948(15 of 1948) or any credit agency has provided finance to a co-operative society, the said Industrial Finance Corporation, or such credit agency, as the case may be, shall have the right to nominate one person on the committee, (3) A person nominated under sub- section (2) shall hold office during the pleasure of the Chief Commissioner or the said Industrial Finance Corporation or such credit agency, as the case may be. 13 Registrar of Co-operative Societies, Co-operative Department, A&N Islands, VIP Road, Junglighat, Port Blair, PIN-744103 (Contact No.03192232388), 2019. ANDAMAN & NICOBAR GAZETTTE, EXTRAORDINARY, MAY 13, 1973