Amendment status not verified — confirm the current text below against the official source.
to amend sub-section (1) of section 67A to provide that the Registrar shall pass an order of supersession of a Board or Liquidation of a Co-operative Bank when so required by the Reserve Bank of India in writing. Hence the Bill. [LC Bill No. 6 of 2005] IV Amending Act 4 of 2013.- It is considered necessary to amend the Karnataka Souharda Sahakari Act, 1997 (Karnataka Act No, 17 of 2000) to be in conformity with the provisions of the constitution (97th Amendment) Act, 2011. Opportunity is also taken to make other consequential amendments. Hence the Bill. [L.A. Bill No.42 of 2012, File No. Samvyashae 72 Shasana 2012] [Entry 32 of List II of the Seventh Schedule to the Constitution of India.] V Amending Act 34 of 2014:- It is considered necessary to further to amend the Karnataka Souharda Sahakari Act, 1997 (Karnataka Act No, 17 of 2000) to provide for,- (i) rejection of bye-laws on technical reasons; (ii) prescribing fee for bye-law amendments; (iii) avoid dual membership; (iv) provisions for appeal in case of rejection of membership; (v) confirm the voting rights; (vi) restrictions on collecting of deposits on non-members; and (vii) other incidental and consequential amendments. Hence the Bill. [L.A. Bill No.52 of 2014, File No. Samvyashae 07 Shasana 2014] [entry 32 of List II of the Seventh Schedule to the Constitution of India.] VI Amending Act 26 of 2016.- It is considered necessary to amend the Karnataka Souharda Sahakari Act, 1997 (Karnataka Act 17 of 2000) to,- (i) increase the number of associate members from present 10% to 15%; (ii) provide separate reservations for the Scheduled Castes and the Scheduled Tribes members in the management of the souharda sahakari; (iii) make provision for no confidence motion against the office-bearers in souharda co-operatives; (iv) make provision for power to seize books and property of the co-operative by the officer conducting audit, enquiry or inspection; and (v) provide for transfer surplus funds on liquidation to souharda co-operative development fund. Hence the Bill. [L.A. Bill No. 26 of 2016, File No. Samvyashae 34 Shasana 2016] [Entry 32 of List II of the Seventh Schedule to the Constitution of India.] VII Amending Act 08 of 2017.- It is considered necessary to amend the Karnataka Souharda Sahakari Act, 1997 (Karnataka Act 17 of 2000) to make a provision for appropriation of 0.50 percent of amount out of the net profit of every Co-operative towards the Sahakara Academy (Reg), Mysore, registered under the Karnataka Societies Registration Act, 1960 and sponsored by the State Government for the purpose of carrying out Co-operative education, training and research. Hence, the Bill. [L.A. Bill No.43 of 2016, File No. Samvyashae 62 Shasana 2016] [entry 32 of List II of the Seventh Schedule to the Constitution of India] VIII Amending Act 35 of 2021.- It is considered necessary to amend the Karnataka Souharda Sahakari Act, 1997 (Karnataka Act 17 of 2000) to,- (a) remove ambiguity in area of operation of a co-operative; (b) consider souharda co- operative as a co- operative society ; (c) enable co- operative to mobilize resource from financial institutions other than deposits; (d) impose restriction on holding of shares by any person to five percent of total shares; (e) disqualify a member who,- (i) is default in payment to be made to co-operative; (ii) has applied to be adjudicated as an insolvent or as an undischarged insolvent; (iii) has been sentenced for any offence, involving moral turpitude; and (iv) is a paid employee of the co-operative or of its financing bank or of its union or of its federal co-operative. (f) redefine eligibility to vote; and (g) complete of liquidation process in a time bound schedule; certain consequential and other amendments are also made. Hence the Bill. [L.A. Bill No. 21 of 2021, File No. Samvyashae 19 Shasana 2021] [Entry 32 of List II of the Seventh Schedule to the Constitution of India.] [Published in Karnataka Gazette Extra-ordinary No. 825 in part-IVA dated: 07.10.2021] IX Amendment Act 74 of 2025:- It is considered necessary to further amend the Karnataka Souharda Sahakari Act 1997 (Karnataka Act No. 17 of 2000) to,- (1) maintain 20% of the total deposits as State Statutory Liquid Reserve to manage increasing cases of misappropriation and to define the word "State Statutory Liquid Reserve." (2) provide funds which is not immediately required for use by a Souharda Co-operative to be invested or deposited outside its business; (3) prescribe the manner to excise the vote to the reserved seats of Co-operative by class of voters; (4) revise reservation of seats of the board in favour of members belonging to the Scheduled Castes, Scheduled Tribes, Women and other Backward Classes; (5) compel the candidate contesting for election, the director and the Chief Executive to declare his assets and liabilities end of every year to control the misappropriation and to bring accountability in Co-operative sector; (6) avoid unnecessary expenditure and time in conducting election; (7) ensure quality audit through the director of Co-operative audit; (8) file a criminal case against the person involved in irregularities or misappropriation for fraudulence report; and (9) certain other consequential amendments also made. Hence, the Bill. [L.A. Bill No. 46 of 2025, File No. SAMVYASHAE 51 SHASANA 2025] [Entry 32 of List II of the Seventh Schedule to the Constitution of India] [Published in Karnataka Gazette Extra-ordinary No.591 in part-IVA dated:12.09.2025] KARNATAKA ACT NO. 17 OF 2000 (First Published in the Karnataka Gazette on the tenth day of May, 2000) THE KARNATAKA SOUHARDA SAHAKARI ACT, 1997 (Received the assent of the President on the twenty eighth day of March, 2000) (As amended by Act 21 of 2004, 16 of 2005, 4 of 2013, 34 of 2014, 26 of 2016, 08 of 2017, 35 of 2021 and 74 of 2025) An Act to provide for recognition, encouragement and voluntary formation of Co-operatives based on self-help, mutual aid, wholly owned, managed and controlled by members as accountable, competitive, self-reliant and economic enterprises guided by co-operative principles and matters connected therewith; WHEREAS it is expedient to provide for recognition encouragement and voluntary formation of co-operatives based on self-help, mutual aid, wholly owned, managed and controlled by members as accountable, competitive self-reliant and economic enterprises guided by co-operative principles and for matters connected therewith; BE it enacted by the Karnataka State Legislature in the Forty-eighth Year of Republic of India as follows:- CHAPTER I PRELIMINARY