The JAMMU AND KASHMIR CO-OPERATIVE SOCIETIES ACT, 1989

jammu-and-kashmir · 1989

S. 1Short title, extent and commencement.
S. 2Definitions.
S. 3The Registrar.
S. 4Societies which may be registered.
S. 5Application for registration of Co-operative Societies.
S. 6Registration.
S. 7Registration certificate.
S. 8Registration with limited or unlimited liability.
S. 8AConversion
S. 9Amendment of the bye-laws of Co-operative Society
S. 10Power to direct amendment of bye-laws.
S. 11Change of name of Co-operative Society
S. 12When amendment of bye-laws comes into force.
S. 13Change of liability.
S. 14Amalgamation, transfer of assets and liabilities and division of Cooperative Societies.
S. 15Cancellation of registration certificate of Co-operative Societies in certain cases.
S. 16Re-organisation of Societies.
S. 17Persons who may become members.
S. 18Nominal or associate members.
S. 19Member not to exercise rights till due payment made.
S. 20Votes for members.
S. 21Manner of exercising vote.
S. 22Restrictions on holding of shares.
S. 23Restriction on transfer of shares or interest.
S. 24Transfer of interest on death of member.
S. 25Liability of a past member and estate of deceased member.
S. 26Final authority in a Co-operative Society.
S. 27Annual general meeting.
S. 28Special general meeting.
S. 29Election and nomination of members of Committees.
S. 29ABar to election, nomination and continuance as member of Committees.
S. 29BQualification for membership of the Committees
S. 30Supersession/removal of Committee.
S. 30ATransitional provision.
S. 30BTransitory provision for revival of certain Cooperative Banks.
S. 31Securing possession of records.
S. 32Acts of Co-operative Societies not to invalidate by certain defects.
S. 32AAutonomy in all financial and internal administrative matters.
S. 33Co-operative Societies to be bodies corporate.
S. 34First charge of Co-operative Society on certain assets.
S. 35Declaration for creating charge.
S. 36Charge and set off in respect of shares or interest of members in the capital or a Co-operative Society.
S. 37Shares or interest not liable to attachment.
S. 38Register of members.
S. 39Proof of entries in Co-operative societys books.
S. 40Exemption from compulsory registration of instruments.
S. 41Exemption from certain taxes, fee and duties.
S. 42Deduction from salary to meet societys claim in certain cases.
S. 43Direct partnership of Government in Co-operative Societies
S. 44Indirect partnership of Government in Co-operative Societies.
S. 45Principal Government Partnership Fund.
S. 46Subsidiary Government Partnership Fund.
S. 47Approval of Government of purchase of shares
S. 48Liability to be limited in respect of certain shares.
S. 49Restriction on amount of dividend.
S. 50Indemnity of apex and central societies
S. 51Disposal of share capital and dividend etc.
S. 52Disposal of Principal Government Partnership Fund and Subsidiary Government Partnership Fund on winding up of an apex or a central society.
S. 53Principal Government Partnership Fund and Subsidiary Partnership Fund not to form part of assets.
S. 54Agreement by Government and apex societies subject to the foregoing provisions of this Chapter.
S. 55Other forms of Government aid to Co-operative societies.
S. 56Provisions of this Chapter to over-ride other laws.
S. 57Fund not to be divided.
S. 58Procedure for calculation of profits.
S. 59Disposal of net profits.
S. 60Investment of funds
S. 61Restriction on loans.
S. 62Instructions on borrowings.
S. 63Restriction on other transactions with non-member.
S. 64Audit.
S. 65Communication of defects in audit to Co-operative society
S. 66Inspection of books of a Co-operative society.
S. 67Inquiry by Registrar
S. 68Costs of inquiry.
S. 69Surcharge.
S. 70Dispute which may be referred to arbitration.
S. 71Recovery of money by Financing Bank.
S. 72Reference of disputes to the authorities or arbitration.
S. 73Recovery of sums advanced.
S. 73ARegistrar’s obligations.
S. 74Winding up of Co-operative Societies.
S. 75Liquidator
S. 76Powers of liquidator.
S. 77Cancellation of registration of a Co-operative Society.
S. 78Definitions.
S. 79State and other Agriculture and Rural Development Banks.
S. 80Powers of Agriculture and Rural Development Bank to advance loans and to hold lands.
S. 81Appointment of Trustee and his powers and functions.
S. 82Trustee to be a Corporation sole
S. 83Issue of debentures by the Board.
S. 84Powers to borrow money by issue of bonds or by way of loan.
S. 85Charge of debentures holders on certain properties.
S. 86Guarantee by Government of Principal of, and interest on debentures bonds etc
S. 87Security for loans
S. 88Mode of dealing with applications for loans
S. 89Other Guarantees by the Government.
S. 90Order granting loan conclusive of certain matters.
S. 91Priority of mortgage over certain claims.
S. 92Right of Agriculture and Rural Development Bank or of the State Agriculture and Rural Development Bank to purchase mortgaged property
S. 93Mortgages executed in favour of Agriculture and Rural Development Bank to stand vested in State Agriculture and Rural Development Bank.
S. 94Registration of mortgages in favour of Agriculture and Rural Development Bank.
S. 95Restriction or lease and transfer
S. 96Recovery of loans by Agriculture and Rural Development Bank.
S. 97Power of Agriculture and Rural Development Bank to receive money and grant discharges.
S. 98Right of Agriculture and Rural Development Bank to pay prior debts of Mortgagor.
S. 99Distraint when to be made.
S. 100Power of sale when to be exercised.
S. 101Power of Agriculture and Rural Development Bank where mortgaged property is destroyed or security becomes insufficient.
S. 102Power of Board or of Trustee to distrain and sell property etc.
S. 103Title of purchaser not to be questioned on the ground of irregularity etc.
S. 104Mortgage not to be questioned on insolvency of mortgagor.
S. 105Appointment of Receiver and his powers.
S. 106Mortgager’s powers to lease.
S. 107Registration of documents executed on behalf of an Agriculture and Rural Development Bank or of the State Agriculture and Rural Development Bank.
S. 108Delegation of certain power by the Board.
S. 109Sections 102, 103 and 104 of the Transfer of Property Act, 1882 to apply to notice under this Chapter.
S. 110Power of the Board to make regulations.
S. 111Mortgage Bank to be Agricultural Class.
S. 112Over-riding effect.
S. 113Housing Co-operative Societies.
S. 114Definition for purposes of this Chapter
S. 115Issue of debentures.
S. 116Appointment and powers of trustee.
S. 117Vesting property in trustee.
S. 118Guarantee by Government of principal of, and interest on debentures.
S. 119Guarantee Fund.
S. 120Rights of debenture holders.
S. 121Raising of loans from Government and funding agencies at National and International levels.
S. 122Accepting of deposit.
S. 123Distraint when to be made.
S. 124Distraint how to be effected.
S. 125Sale of property distrained.
S. 126Power of sale of mortgage and property when and how to be exercised.
S. 127Application for sale and manner of sale.
S. 128Application to set aside sale.
S. 129Disposal of sale proceeds.
S. 130Grant of certificate to purchaser
S. 131Delivery of property to purchaser.
S. 132Appointment and power of receiver.
S. 133Title of purchaser not impeachable for irregularities.
S. 134Eviction of defaulter member and tenants etc. and applicability of the Residential and Commercial Tenancy Act, 2012.
S. 135Appointment of Sale Officers.
S. 136Mortgages executed in favour of Housing Society to stand vested in Housefed.
S. 137Requirement when property mortgaged is destroyed or security is rendered insufficient etc.
S. 138Power of Board and Trustee to direct distraint sale.
S. 139Mortgage not to be questioned in insolvency of mortgagor.
S. 140Right of Housing Society to pay prior debts of mortgagor.
S. 141Power of Housing Society regarding mortgages transferred to Housefed.
S. 142Mortgages executed by Manager of Joint Hindu Family.
S. 143Non-applicability of Land Acquisition Act to Lands of Housing Societies
S. 144Proof of document or entries in documents.
S. 145Application of this Chapter to loans advance by Housing Society from funds not borrowed from Housefed.
S. 146Application of provisions of Transfer of Property Act, Samvat 1977 to notices.
S. 147Officers of Housing Societies and Sale Officers not to bid at sales.
S. 148Delegation of powers of Board.
S. 149Board’s power of supervision
S. 150Regulation under this Chapter.
S. 151Power to make rules.
S. 152Enforcement of charges.
S. 153Execution of orders etc.
S. 154Attachment of property before award or order.
S. 155Registrar or person empowered by him to be civil court for certain purposes.
S. 156Recovery of sum due to Government.
S. 157Constitution of Co-operative Appellate Tribunal.
S. 158Constitution of Co-operative Appellate Tribunal.
S. 159Limitation for appeal.
S. 160Revision.
S. 161Review.
S. 162Interlocutory orders.
S. 163Offences.
S. 164Cognizance of offences
S. 165Address of a Co-operative Society
S. 166Copy of Act, Rules and Bye-laws to open to inspection.
S. 167Prohibition against the use of the word “Co-operative”.
S. 168Notice necessary in suits.
S. 169Travelling and other allowances etc.
S. 170Securities etc.
S. 171Companies Act not to apply.
S. 172Saving of existing societies.
S. 173Indemnity.
S. 174Power of Civil Court
S. 175Bar of Jurisdiction of Courts.
S. 176Power to make rules.
S. 177Repeal and savings.