Amendment status not verified — confirm the current text below against the official source.
37[(1)] Where the State Government has subscribed to the share capital of a society, directly or through another society, or has guaranteed the repayment of the principal of and payment of interest on, debentures issued or loans raised by a society, 38[the State Government shall, notwithstanding anything contained in the bye-laws of such society , have the right to nominate three representative on the Committee or such society], in such manner as may be determined by the State Government from time to time. The members so nominated shall hold office during the pleasure of the State Government, or for such period as may be specified in the order by which they are appointed, and any such member on assuming office shall have all rights, duties, responsibilities and liabilities as if he were a member of the committee duly elected. 39[Explanation.— Any nomination of the Registrar or his nominee on the Committee of a society under bye-laws of such society shall not be construed as nomination of the representative on that Committee in exercise of the right of the State Government under this sub-section.] 40[(2) Where the State Government is of the opinion that having regard to the public interest involved in the operation of a society it is necessary or expedient so to do, it may nominate its representatives on the committee of such society as if the State Government had subscribed to the share capital of the society and the provisions of sub-section (1) shall, so for as may be apply to such nomination.] Acts of societies etc. not to be invalidated by certain defects. Power to appoint Government nomince. 1962: Guj. X] Gujarat Co-operative Societies Act, 1961 40a[(3) Notwithstanding anything contained in this Act or the rules or in the bye-laws, there shall be only one nominee of the State Government in the committee of the State Co-operative Bank or the Central Co- operative Banks where the State Government has subscribed to the share capital of such co-operative banks and no such nomination shall be made where the State Government has not subscribed to the share capital of such co-operative banks and no such nomination shall be made on the committee of a Primary Agricultural Credit Co-operative Society irrespective of whether the State Government has subscribed to the share capital of a society or not.] 41[80A. (1) where on the expiry of the term of office of the members of any committee of management nominated by the State Government, or the Registrar, the State Government or, as the case may be, the Registrar is of the opinion that it is necessary or expedient so to do, it or he may, by an order published in the Official Gazette,— (a) extend the term of office of the members of the said committee of the management; or (b) appoint a person or a committee of persons to be the custodian of the society; for such period not exceeding two years in the aggregate or until a new committee of management is elected, whichever is earlier. (2) The custodian so appointed shall, subject to the control of the Registrar and to such instructions as he may, from time, give, have powers to exercise all or any of the functions of the Committee, and take all such actions as may be required in the interest of the society. (3) All acts done or purported to be done by the custodian during the period when the affairs of the society are carried on by the custodian appointed under sub-section (1) shall be binding on the new committee of management.] 41a[(4) The provisions contained in sub-sections (1) to (3) shall not apply to the societies in the co-operative credit structure.]