The Jharkhand Self-Supporting Co-operative Societies Act, 1996
jharkhand · 1997
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- S. 1Short title, extent and commencement
- S. 2Section 2 defines key terms used in the Jharkhand Self-Supporting Co-operative Societies Act, 1996.
- S. 3Section 3 outlines the cooperative principles that must guide the formation and operation of societies under the Jharkhand Self-Supporting Co-operative Societies Act, 1996.
- S. 4Section 4 allows only societies promoting social and economic betterment through self-help and mutual aid to register as cooperative societies.
- S. 5Section 5 outlines the application process for registration of various cooperative societies under the Jharkhand Self-Supporting Co-operative Societies Act, 1996.
- S. 6Section 6 ensures members' access to society's books, information, and training opportunities.
- S. 7Section mandates cooperative societies to display their name, registered office address, and registration under the Act on all official documents and business correspondence.
- S. 8Section 8 amends the board composition of self-supporting co-operative societies, reserving at least half the seats for women, including specific seats for SC/ST women.
- S. 9Section 9 outlines the regulation of cooperative societies' functioning through their bye-laws, except for specific statutory provisions.
- S. 10Section 10 allows Cooperative Societies to amend bye-laws with a two-thirds majority vote, provided proper notice is given and the Registrar is notified within thirty days.
- S. 11Section 11 allows cooperative societies to change liability, transfer assets and liabilities, divide, or amalgamate with others.
- S. 12In the said Act Section - 35 shall be substituted by the following, namely – “35
- S. 13Insertion of section - 41A after section - 41 of the Jharkhand Act 2 of 1997
- S. 14Section 14 outlines the formation and functions of Cooperative Unions and Federations in Jharkhand, including their roles in promoting, training, and representing cooperative societies.
- S. 15Section 15 allows cooperative societies to raise funds through shares, deposits, loans, etc., subject to bye-law conditions.
- S. 16Section 16 restricts cooperative societies' borrowings to ten times their member funds and reserves, allowing government or institution funds with conditions.
- S. 17Section 17 limits primary cooperative society members to holding no more than one-tenth of equity capital and prohibits accepting government equity funds.
- S. 18Section 18 outlines how a Cooperative Society in Jharkhand must distribute its surplus funds among members, reserves, and other purposes.
- S. 19Section 19 outlines how a cooperative society's deficit should be reported and managed by the board and general body.
- S. 20Section 20 allows cooperative societies to establish reserves and funds for their objectives, using them for their intended purposes or business needs.
- S. 21The section allows Cooperative Societies to invest excess funds in various approved entities or securities.
- S. 22Section 22 prohibits cooperative societies from contributing to organizations promoting political parties or religious faiths.
- S. 23Section 23 outlines the admission and removal of members in cooperative societies, ensuring non-discriminatory membership and appeal processes.
- S. 24Section 24 restricts cooperative society services to members unless bye-laws allow otherwise.
- S. 25Section 25 outlines the ultimate authority of a Cooperative Society's general body for governance, elections, and financial oversight.
- S. 26Board (1) The general body of a Cooperative Society shall constitute a board in accordance with the bye-laws
- S. 27Section 27 outlines the powers and functions of the board and chairperson of cooperative societies in Jharkhand.
- S. 28Section 28 sets the maximum term of office for directors at three years, with potential early termination by the general body.
- S. 29Section 29 outlines the process for conducting elections for the board of a Cooperative Society in Jharkhand.
- S. 30Section 30 outlines the frequency and procedures for holding board and general body meetings in Cooperative Societies in Jharkhand.
- S. 31Section 31 outlines staff appointment, accountability, and a three-year post-government service ban for government officers in cooperative societies.
- S. 32Section 32 mandates Cooperative Societies to maintain detailed accounts and records at their registered office, including minutes, bye-laws, financial transactions, and membership details.
- S. 33Section 33 mandates cooperative societies to get audited by a selected auditor, detailing audit report contents and auditor removal procedures.
- S. 34Section 34 mandates special audits for cooperative societies receiving government or external funds, with audit costs borne by creditors and reports submitted within 120 days.
- S. 35Section 35 mandates Cooperative Societies to file annual reports, audited accounts, and other specified information with the Registrar within five months.
- S. 36Section 36 mandates the Registrar to conduct or order enquiries into cooperative societies' compliance with the Act and cooperative principles.
- S. 37Section 37 grants authority to conduct special audits or enquiries by summoning and examining persons and documents related to cooperative societies.
- S. 38Section 38 mandates the Registrar to convene a meeting or request the Cooperative Tribunal to act if a special audit or enquiry report reveals mismanagement by office-bearers.
- S. 39The section establishes Cooperative Tribunals to handle disputes and enforce the Act's provisions.
- S. 40Section 40 outlines the process for referring disputes within or between cooperative societies to the Cooperative Tribunal for resolution.
- S. 41Section 41 empowers the Tribunal to disallow improper expenditures and order recovery from responsible members for losses due to their misconduct.
- S. 42Section 42 outlines penalties for various offenses by Cooperative Societies under the Jharkhand Self-Supporting Co-operative Societies Act, 1996.
- S. 43Section 43 outlines the process for a cooperative society's dissolution by members, including special resolution authorization and notice requirements.
- S. 44Section 44 allows the dissolution of a cooperative society by a Tribunal if it fails to operate according to legal and cooperative principles.
- S. 45The Registrar can appoint a liquidator to dissolve a Cooperative Society or issue a dissolution certificate if no assets remain.
- S. 46Section 46 details the duties of a liquidator appointed to wind up a self-supporting cooperative society in Jharkhand.
- S. 47Section 47 grants a liquidator broad powers to manage and liquidate a cooperative society's affairs and recover misappropriated assets.
- S. 48Section 48 details the process for a liquidator to settle a cooperative society's final accounts and dissolve the society.
- S. 48AApplicat io n o f t he Chapt er t o cooper at ive Bank
- S. 48BD i v i s i o n , a m a l g a m a t i o n , c o m p r o m i s e , e t c
- S. 48CSupersession of Managing Committee of Cooperative Bank
- S. 48DReserve Bank’s sanction or requisition for winding up order
- S. 48EReimbursement to Deposit Insurance Corporation
- S. 48FFinality of the Reserve Bank’s sanction or requisition
- S. 49The Registrar can charge a reasonable fee for services provided under the Act.
- S. 50Section 50 restricts civil and revenue courts from having jurisdiction over specified cooperative society disputes and liquidation matters.
- S. 51Rules (1) The State Government may by notification make rules, to carry out all or any of the provisions of this A
- S. 52Section 52 allows the State Government to address practical difficulties in implementing the Act by issuing notifications.