Amendment status not verified — confirm the current text below against the official source.
Amendment of section 25.- In section 25 of the principal Act,- (i) in sub-section(1), for clause (e) the following shall be substituted, namely:- “(e) is in default to that cooperative or any other cooperative or cooperative society in respect of any dues from him as borrower or has been a surety for a borrower who has defaulted in repaying his loan continuously for three installments.” (ii) in sub section (2), for the words “All the directors shall incur disqualification for being elected as directors in a cooperative for a maximum period of five years from the date of incurring such disqualification and shall also be disqualified to continue as directors of that cooperative or any other cooperative if during the term of office as directors of a cooperative they,” the words “Such directors who are responsible shall incur disqualification for being elected as director in a cooperative or cooperative society for a maximum period of five years from the date of incurring such disqualification and shall also be disqualified to continue as director of that cooperative or any other cooperative or cooperative society, if during the term of office as director of a cooperative or cooperative society they,” shall be substituted.