Amendment status not verified — confirm the current text below against the official source.
inserted by Act 7 of 2010 7.Registration.- (1)If the Registrar is satisfied— (a)that the application complies with the provisions of this Act and the rules; (b)that the objects of the proposed society are in accordance with section 4; (c)that the area of operation of the proposed society and the area of operation of another society of similar type do not overlap; (d)that the proposed bye-laws are not contrary to the provisions of this Act and the rules; and (e)that the proposed society complies with the requirements of sound business, he may register the society and its bye-laws 16[within a period of ninety days from the date of receipt of the application.] (2)Where the Registrar refuses to register a society, he shall communicate the order of refusal together with the reasons therefore within seven days of such order to such of the applicants as may be prescribed. (3)An application for registration of a society shall be disposed of by the Registrar 16a[within ninety days] from the date of receipt of the application. 16b[(4)Where an application for registration of a society is not disposed of within the time specified in sub-section (3), the applicant may make a representation,-- (a)before the Registrar, if the application for registration is made to a person on whom the powers of the Registrar is conferred under sub- section (2) of section 3; or (b)before the Government, if the application for registration is made before Registrar, and the Registrar or the Government, as the case may be, shall, within sixty days from the date of receipt of such representation, issue directions to the authority concerned to take appropriate decision on the application for registration and the authority concerned shall comply with such directions.] 16, 16b inserted & 16a Substituted by Act 1 of 2000 8.Registration certificate.- 17[(1)Where a co- operative society is registered under this Act, the Registrar shall issue a certificate of registration signed and sealed by him, which shall be conclusive evidence that the said society is duly registered under this Act.] 17[(2)Notwithstanding anything contained in sub-section (1), where the Registrar is satisfied that the original registration certificate is irrecoverably lost and a duplicate certificate could not be issued as the files or records regarding the registration of the co-operative society was lost, after registration, the Registrar shall issue a certificate stating the registration number and date of registration of a co-operative society, on the basis of the details available in the audit certificate and the records available with the Registrar, signed and sealed by him, which shall be conclusive proof that the said society is duly registered and it shall be treated as a certificate of registration.] 17 Section 8 is numbered as sub section (1) of that section and new sub section (2) is inserted after sub section (1) by Act 8 of 2013 18[8A. Affiliation to apex Society.-(1) Every Primary Co-operative Society or Central Co-operative Society may, within such time and in such manner, as may be prescribed, apply for affiliation to the concerned apex society or Central Society, as the case may be. (2)Where the apex society or central society does not, within sixty days from the date of receipt of the application for affiliation, determine whether such affiliation should be given or not, such affiliation shall be deemed to have been given to the applicant society from the date on which the said period of sixty days expires. (3)When the apex or central society, as the case may be, rejects an application for affiliation under sub-section (1), the aggrieved society may file an appeal before the Registrar against such rejection within thirty days from the date of receipt of the order of rejection and the Registrar shall dispose of the appeal within sixty days from the date of appeal.] 18 inserted by Act 1 of 2000 9.Co-operative societies to be bodies corporate.- The registration of a society shall render it a body corporate by the name under which it is registered, having perpetual succession and a common seal, and with power to hold property, enter into contracts, institute and defend suits and other legal proceedings and to do all things necessary for the purposes for which it was constituted: 19a[Provided that the Government and the Registrar shall have power to regulate 19[xxx] the working of a society for the economic and social betterment of its members and the general public.] 20[9A. Publication of name by a co-operative society.- Every co-operative society,- (a) shall paint or affix its name, register number and the address of its registered office and keep the same painted or affixed in conspicuous position, in letters easily legible to members in vernacular language and in English language, on the outside of every office or place in which its business is carried on; (b)shall have its name engraved in legible characters on its seal with common emblem; and (c) shall have its name and address of its registered office, mentioned in legible characters in all its business letters in all its bill heads and letter paper, and in all its notices and other official publications, and also have its name so mentioned in all bills of exchange, hundis, promissory notes, endorsements, cheques and orders for money or goods purporting to be signed by or on behalf of the co-operative society, and in all bills of parcels, invoices, receipts and letters of credit of the co- operative society.] 19 Omitted & 20 inserted by Act 8 of 2013 19a inserted by Act 7 of 2010 10.Change of name of society.- (1)A society may, by an amendment of its bye-laws, change its name. (2)Where a society changes its name, the Registrar shall enter the new name in the register of co-operative societies in the place of the former name and shall amend the certificate of registration accordingly. (3)The change of name of a society shall not affect any rights or obligations of the society or render defective any legal proceedings by or against it; and any legal proceedings which might have been continued or commenced by or against the society by its former name may be continued or commenced by its new name. 11.Change of liability.-(1)Subject to the provisions of this Act and the rules, a society may, by an amendment of its bye-laws, change the form or extent of its liability. (2)When a society has passed a resolution to change the form or extent of its liability, it shall give notice thereof in writing to all its members and creditors and notwithstanding the provisions of section 24 or any bye-law or contract to the contrary, any member or creditor shall, during a period of two months from the date of service of the notice upon him, have the option of withdrawing his shares, deposits or loans, as the case may be. (3)Any member or creditor who does not exercise his option within the period specified in sub-section (2) shall be deemed to have given his assent to the change. (4)An amendment of the bye-laws of a society changing the form or extent of its liability shall not be registered or take effect until either— (a)the assent thereto of all members and creditors has been given or deemed to have been given; or (b)all claims of members and creditors who exercise the option referred to in sub-section (2) within the period specified therein have been met in full. 12.Amendment of bye-law of society.-(1)No amendment of any bye-law of a society shall be valid unless such amendment has been registered under this Act. (2)The provisions of section 7 specifying the conditions to be satisfied before registration of the bye-laws of a society by the Registrar shall mutatis mutandis, apply also to the registration of amendments to bye-laws: Provided that the Registrar shall before registering an amendment of any bye-law consult- (a)the State Co-operative Union if the bye-laws to be amended are that of an apex society or a central society; or (b)the circle co-operative union if the bye-laws that are to be amended are that of any other society; and (c)the financing bank if the society is indebted to the financing bank. (3)The Registrar shall forward to the society a copy of the registered amendment together with a certificate of registration signed and sealed by him, and such certificate shall be conclusive evidence that the amendment has been duly registered. (4)Where the Registrar refuses to register an amendment of the bye-laws of a society, he shall communicate the order of refusal, together with the reasons thereof, within seven days of the order to the society. 21a[ (4A) An application to register an amendment of the bye-laws of a society shall be disposed of by the Registrar within ninety days from the date of receipt of the same. (4B) Where an application to register an amendment of the bye-laws of a society is not disposed of within the time specified in sub-section (4A), the society may make a representation,- (a)before the Registrar of Co-operative Societies, if the application to register the amendment of the bye-laws is made to a person on whom the powers of the Registrar is conferred under sub-section (2) of section 3; or (b)before the Government if the application for registration of the amendment of the bye-laws is made before the Registrar, and the Registrar or the Government, as the case may be, shall within sixty days from the date of receipt of such representation, issue directions to the authority concerned, to dispose of the same.] 21[(5)xxxx (6)xxxx (7)xxxx] 21 Omitted by Act 8 of 2013 21a inserted by Act 1 of 2000 13.When amendments of bye-laws come into force.-An amendment of the bye-laws of a society shall, unless it is expressed to come into operation on a particular day, come into force on the day on which it is registered. 22[13A. Subject matter of Bye-laws.- Every co-operative society shall make its bye-laws consistent with the provisions of this Act and rules and no provision in the bye-laws of a co-operative society shall be contrary to the provisions of the Act and the Rules.] 22 inserted by Act 8 of 2013 14.Amalgamation, transfer of assets and liabilities and division of societies.-(1)A society may, 23[xxx] by a resolution passed by a two-third majority of the members present and voting at a general body meeting of the society,- (a)transfer its assets and liabilities in whole or in part to any other society; (b)divide itself into two or more societies (2)Any two or more societies may, 23a[xxx] by a resolution passed by a two third majority of the members present and voting at a general body meeting of each such society, amalgamate themselves and form a new society. (3)The resolution of a society under sub-section (1) or sub-section (2) shall contain all particulars of the transfer, division or amalgamation, as the case may be. (4)When a society has passed any such resolution, it shall give notice thereof in writing to all its members and creditors and, notwithstanding the provisions of section 24 or any bye-law or contract to the contrary, any member or creditor shall, within a period of two months from the date of service of the notice upon him, have the option of withdrawing his shares, deposits or loans, as the case may be. (5)Any member or creditor who does not exercise his option within the period specified in sub-section (4) shall be deemed to have given his assent to the proposals contained in the resolution. (6)A resolution passed by a society under this section shall not take effect until either— (a)the assent thereto of all the members and creditors has been given or deemed to have been given; or (b)all claims of members and creditors who exercise the option referred to in sub-section (4) within the period specified therein, have been met in full. (7)Where a resolution passed by a society under this section involves the transfer of any assets and liabilities, the resolution shall, notwithstanding anything contained in any law for the time being in force, be a sufficient conveyance to vest the assets and liabilities in the transferee without any further assurance. 23b[(8)xxx (9)xxx] 23, 23a, 23b omitted by Act 8 of 2013 24a[14A.Provisions regarding transfer of assets and liabilities of District Co-operative Banks to the Kerala State Co-operative Bank. – (1) Notwithstanding anything contained in this Act or in any other law for time being in force, the District Co-operative Banks may by a resolution passed by a simple majority of the members present and voting at the special general body meeting of the members, transfer its assets and liabilities in whole to the Kerala State Co-operative Bank and such transfer shall take effect from the date on which the Registrar approves the resolution. (2) The resolution shall contain particulars of the assets and liabilities to be transferred. (3) When a District Co-operative Bank has passed any such resolution, under sub-section (1), it shall give notice thereof in a writing in all its members within 7 days from the date of resolution, notwithstanding anything contained in the provisions of section 24 or any Rules or any byelaws and sub-rules or any contract to the contrary, any member shall, within a period of 30 days from the date of issuance of the said notice, have the option of withdrawing his shares, deposits or closing loans, as the case may be: Provided that any other debtor or creditor shall be informed of such a resolution through publication of notice in two leading daily newspapers in vernacular language within 7 days from the date of resolution that they have the option to withdraw deposit, loans, as the case may be, within a period of thirty days from the date of publication of notice. (4) Any member or creditor or debtor who does not exercise his option within the period specified in sub-section (3) shall be deemed to have given his assent to the proposals contained in the resolution. (5) On and from the date of approval of transfer of assets and liabilities of each District Co-operative Bank by the Registrar, all the assets and liabilities as it stood immediately before the transfer shall without any further Act, instrument or deed, stand transferred to and vested in the Kerala State Co-operative Bank. (6) On and from the date of approval of transfer of assets and liabilities of each of the District Co-operative Bank by the Registrar, all pending suits or legal proceedings by or against such Banks shall be continued by the Kerala State Co-operative Bank. 24a[24[14AA.Promotion of subsidiary institutions for the economic welfare of members.-(1)A co-operative society may by a resolution passed at general body meeting by a majority of members present and voting, promote one or more subsidiary institutions, which may be registered under any law for the time being in force, for the furtherance of its stated objects with the prior approval of Registrar. (2)Any subsidiary institution promoted under sub-section (1) shall exist only as long as the general body of the co-operative society deems its existence necessary: Provided that a co-operative society, while promoting such a subsidiary institution shall not transfer or assign its substantive part of business or activities undertaken in furtherance of its stated objects to such subsidiary institutions. Explanation: For the purpose of this section,- (a)An institution shall be deemed to be a subsidiary institution where the co-operative society,- (i)controls the management or board of directors or members of governing body of such institutions; or (ii)holds more than half in nominal value of equity shares of such institutions. (b)a subsidiary institution shall not include a partnership firm. (3)The annual reports and audited accounts of any such subsidiary institution shall be placed each year before general body meeting of the promoting co-operative society.