Amendment status not verified — confirm the current text below against the official source.
It shall be an offence under this Act, if – (a) any member of a society transfers any property or interest in the property in contravention of sub-section (2) of section 48 or any person knowingly acquires, or abets in the acquisition of, such property ; (b) any employer and every director, manager, secretary or other officer or agent acting on behalf of such employer who without sufficient cause, fails to comply with sub-section (2) of section 50 ; or (c) a committee of a society or an officer or member thereof fails to invest funds of such society in the manner required by section 71 ; or (d) any person, collecting share money for a society information does not within a reasonable period deposit the same in the Apex Bank, or an urban Co-operative Bank, or Postal Savings Bank ; or (e) any person, collecting share money for a society in formation makes use of the funds so raised for conducting any business or trading in the name of a society be registered or otherwise ; or (f) a committee of a society, or an officer member thereof fails to comply with the provisions of sub-sections (2), (3) or (4) of section 76 ; or (g) any officer or member of a society who is in possession of information, books and records, fails to furnish such information or produce books and papers, or give assistance to a person appointed or authorized by the State Government or the Registrar under Sections 79, 82, 84, 86 or 98 or 107 ; or Offences. Prohibition of use of the word co- operative. APCS ACT 1978 58 (h) any officer of a society fails to hand over the custody of books, records, cash, security and other property belonging to the society of which he is an officer to a person appointed under section 79 or 107 ; or (i) a committee of a society with a working capital of fifty thousand rupees or more, or any officer or a member thereof, fails without any reasonable excuse to give any notice, send any return or document, do or allow to be done anything, which the committee, officer or member is by this Act required to give, send, do or allow to be done or comply with orders made under section 80, or (j) a committee of a society or an officer or member thereof willfully neglects or refuse to do any act, or to furnish any information required for the purposes of this Act, the Registrar, or other person duly authorized by him in writing in this behalf ; or (k) a committee of a society or an officer or member thereof willfully makes a false return or furnishes false information or fails to maintain proper accounts ; (l) any member, officer, agent or servant of a society fails to comply with the requirements of sub-section (4) of section 82 ; or (m) any officer or a member of a society willfully fails to comply with any decision, award or order passed under section 97 ; or (n) a member of a society fraudulently disposes of property over which the society has a prior claim or a member or officer or employee or any person disposes of his property by sale, transfer, mortgage, gift or otherwise with the fraudulent intention of evading the dues of the society ; or (o) any officer of a society willfully recommends or sanctions for his own personal use or benefit or for the use or benefit of a person in whom he is interested a loan in the name of any other person ; or (p) any officer or member of a society destroys, mutilates, tampers with or, otherwise alters, falsifies or secrets or is privy to the destruction, mutilation, alteration, falsification or secreting of any books, paper or securities or makes or is privy to the making of any false or fraudulent entry in any register, book of account or document belonging to the society ; or (q) any officer or member of a society or any person does any act declared by the rules to be an offence. Explanation - For the purpose of this section an officer or a member referred to in the section shall include past officer and past member, as the case may be. APCS ACT 1978 59