Amendment status not verified — confirm the current text below against the official source.
Definitions.- In this Act, unless the context otherwise requires— (a) “apex society” means a society having the whole of the State as its area of operation and having as its members only other societies with similar objects and declared as such by the Registrar; 4[(aa)“assisted society” means a co-operative society which has received the Government assistance in the form of share capital, loan, grant or any other financial assistance or any guarantee by the Government or from Boards constituted by the Government for repayment of loan, interest or deposits;] 4a [(ab)“auditing of accounts of Co-operative Societies” means a close examination of financial transactions, overdue debts, if any, maintenance of books of accounts, documents and other records of a business, preparation of audit report and includes an inquiry into the affairs of the society and subsidiary institutions in order to ascertain the correctness of accounts and the extent to which its activities were useful in promoting the economic welfare of the members in accordance with the co-operative principles;] (b) “bye-laws” means the registered bye-laws of a co-operative society for the time being in force; (c) “circle co-operative union” means a circle co-operative union constituted under section 88; 12[(d) “central society” means a society having jurisdiction over one or more Revenue Districts but not the whole of the State as its area of operation, and having as its members only other societies and declared as such by the Registrar or the Government;] 4b[(da) “chief executive” means any employee of a co-operative society by whatever designation called and includes an officer of the State Government or an employee of any other institution or co-operative society, who discharges the functions of a chief executive under the Act, the Rules or the Bye-laws;] (e)“committee” means the governing body of a co-operative society by whatever name called, to which the management of the affairs of the society is entrusted; 9[(ea) “ Co-operative Arbitration Court” means a court constituted under section 70A ;] 9[(eb) “Consortium Lending Scheme” means the Consortium Lending Scheme framed under section 57C;] 9[(ec) “Co-operative Development and Welfare Fund” means the Co- operative Development and Welfare Fund established under section 57A;] 6[(ecc) “Co-operative Ombudsman” means the person or persons appointed under sub-section (2) of section 69 A;] 4c[(eccc) “co-operative principles” means the co-operative principles listed in Schedule II appended to this Act;] 9[(ed) “Co-operative Service Examination Board” means the Co- operative Service Examination Board constituted under section 80B;] (f)“co-operative society” or “society” means a co-operative society registered or deemed to be registered under this Act; (g)“co-operative society with limited liability” means a society in which the liability of its members for the debts of the society in the event of its being wound up is limited by its bye-laws- (i)to the amount, if any, unpaid on the shares respectively held by them; or (ii)to such amount as they may, respectively, undertake to contribute to the assets of the society; (h)“co-operative society with unlimited liability” means a society, the members of which are, in the event of its being wound up, jointly and severally liable for and in respect of all its obligations and to contribute to any deficit in the assets of the society; 9a[(ha) “Deposit Guarantee Scheme” means the Deposit Guarantee Scheme framed under section 57 B;] 6a[9a[(hb) “Director of Co-operative Audit” means the Director of Co- operative Audit appointed under sub-section (1) of section 63 and any officer to whom all or any of the powers of the Director of Co-operative Audit may be delegated by the Government by general or special order under sub-section (3) of section 63 ;]] (i)“dispute” means any matter touching the business, constitution, establishments or management of a society capable of being the subject of litigation and includes a claim in respect of any sum payable to or by a society, whether such claim be admitted or not; 13b[3[3a[5[7[8[9b[10[“ (ia) District Co-operative Bank” means a Central Society having jurisdiction over one revenue district and having as its members Primary Agricultural Credit Societies, Urban Co-operative Banks and the principal object of which is to raise funds to be lent to its members, including nominal or associate members, which existed under this Act, immediately before the commencement of the Kerala Co-operative Societies (Amendment) Act, 2019 and which has ceased to exist after the commencement of the said Amendment Act.”]]]]]]] 9b[(ib) “Federal Co-operative Society” means a society having more than one district as its area of operation and having 6b[the Government,] individuals and other co-operative societies as its members;] (j)“financing bank” means a co-operative society having as its members only other co-operative societies and the main object of which is to raise money and lend the same to its members; (k)“general body meeting” means a meeting of the members who are entitled to vote in the affairs of the society; 13b[ (ka) “Kerala State Co-operative Bank “ means an apex society having Primary Agricultural Credit Societies and Urban Co-operative Banks as its members including nominal or associate members of the District Co- operative Banks who shall continue as nominal or associate members of the Kerala State Co-operative Bank.”] (l)“member” means a person joining in the application for the registration of a co-operative society or a person admitted to membership after such registration in accordance with this Act, the rules and the bye-laws, and includes a nominal or associate member; 4d[6c[(la)“miscellaneous societies” means such societies, as may be prescribed, and which accept deposits from their members only and no deposits shall be accepted from nominal or associate members, and shall undertake business activities for the welfare of its members as per the bye- laws and shall issue loans only to members: Provided that no agricultural loans or schematic loans shall be issued to the members except the loans for welfare activities;]] (m)“nominal or associate member” means a member who possesses only such privileges and rights of a member and who is subject only to such liabilities of a member as may be specified in the bye-laws; (n)“officer” means the president, vice-president, chairman, vice chairman, secretary, manager, member of committee or treasurer and includes a liquidator, administrator and any other person empowered under the rules or the bye-laws to give directions in regard to the business of a co- operative society; (o)“prescribed” means prescribed by rules made under this Act; 4e[(oa) “prescribed period” means the period of limitation specified in Schedule III appended to this Act;] 4f[6d[9c[13[(oaa) “Primary Agricultural Credit Society” means a Service Co- operative Society, a Service Co-operative Bank, a Farmers’ Service Co- operative Bank and a Rural Bank the principal object of which is to undertake agricultural credit activities and to provide loans and advances for agricultural purposes, the rate of interest on such loans and advances shall be the rate fixed by the Registrar and having its area of operation confined to a Village, Panchayat or a Municipality: Provided that the restriction regarding the area of operation shall not apply to societies or banks in existence at the commencement of the Kerala Co- operative Societies(Amendment) Act, 1999(1 of 2000): Provided further that if the above principal object is not fulfilled, such societies shall lose all characteristic of a Primary Agricultural Credit Society as specified in the Act, Rules and Bye-laws except the existing staff strength;]]]] 10a[13[(ob) “primary credit society” means a society other than an apex or central society which has as its principal object the raising of funds to be lent to its members;]] 9d[(oc) “Primary Co-operative Agricultural and Rural Development Bank” means a society having its area of operation confined to a taluk and the principal object of which is to provide for long term credit for agricultural and rural development activities: 5b[Provided that no Primary Co-operative Agricultural and Rural Development Bank shall be registered without the bifurcation of assets and liabilities of the existing societies having the area of operation in more than one taluk and the societies shall restrict their operation in the area of the respective society on such bifurcation;]] 7a[(od) “Primary Co-operative Society” means a society having jurisdiction over a revenue district as a whole or over any specified area within such revenue district and having individual or individuals and other Co-operative Societies as its members;] 7c[(oe) “Primary Tourism Co-operative Society” means a society having its area of operation confined to a taluk and the principal object of which is to promote, organize and assist tourism activities: Provided that those societies in existence on the 5th day of July, 2018 having more than one taluk as its area of operation shall restrict such area of operation to the taluk where the headquarters of the society is situated, within a period of one year from that date.” (p)“Registrar” means the Registrar of Co-operative Societies appointed under sub-section (1) of section 3 and includes any person on whom all or any of the powers of the Registrar under this Act are conferred; (q)“rules” means the rules made under this Act; 13a[(qa)“Scheduled Castes” means the Scheduled Castes in relation to the State of Kerala as specified in the Constitution (Scheduled Castes) Order, 1950; (qb) “Scheduled Tribes” means the Scheduled Tribes in relation to the State of Kerala as specified in the Constitution (Scheduled Tribes) Order, 1950;] 5a[(qc) “Special Officer” means an officer, not below the rank of an Assistant Registrar, appointed by the Registrar to take into custody the assets and liabilities of the society which secured registration without bifurcating the area of operation of an existing society and to register new societies and to constitute committees as provided in section 28 of the Act;] (r) “State” means the State of Kerala; 9e[(ra) “State Co-operative Agricultural and Rural Development Bank” means an apex society having only Primary Co- operative Agricultural and Rural Development Banks as its members and functioning in accordance with the provisions contained in the Kerala State Co-operative Agricultural and Rural Development Banks Act, 1984 (20 of 1984); 13b[(rb)] (rc) “State Co-operative Election Commission” means the State Co- operative Election Commission constituted under section 28B;] (s) “State Co-operative Union” means the State Co-operative Union established under section 89; 13b[(sa) “Transferee Bank” the Kerala State Co-operative Bank; (sb) ‘Transferor Bank’ means the District Co-operative Bank as defined under clause (ia) of the Section;] (t)“Tribunal” means the Tribunal constituted under section 81; 7b[9f[10b[(ta) “Urban Co-operative Bank” means a society registered under this Act having its area of operation in the Urban areas and which undertakes banking business with the license obtained from Reserve Bank of India;]]] 6e[(taa) “Urban Co-operative Societies” means a co-operative society the principal object of which is to undertake non-agricultural credit activities and to raise funds to be lent to its members with its area of operation confined to a municipality or a corporation: Provided that the restriction regarding the area of operation shall not be applicable to the existing urban co-operative societies;] 9f[(tb)“Vigilance Officer” means the Vigilance Officer appointed under section 68A;] (u)“year” means the period commencing on the 11[first day of April of any year and ending with 31st of March] of the succeeding year or in the case of any registered society or class of registered societies, the accounts of which are made up to any other date with the previous sanction of the Registrar, the year ending with such date. 3 substituted by Act 14 of 2017 3a substituted by Act 24 of 2014 4, 4a, 4b , 4c , 4e inserted, 4d substituted & 4f Clause ‘oa’ renumbered as ‘oaa’ by Act 8 of 2013 5, 5b substituted & 5a inserted by Act 13 of 2012 6, 6b, 6c, 6e inserted, 6a substituted & 6d substituted as ‘oa’ by Act 7 of 2010 7, 7b substituted & 7a inserted by Act 9 of 2009 7c inserted by Act 39 of 2018 8 substituted by Act 3 of 2002 9 clause ‘ee’ inserted by Act 15 of 1997 was relettered as clause ‘ea’ and clause ‘eb’, ‘ec’ and ‘ed’ inserted by Act 1 of 2000 9a clause ‘ha’ and ‘hb’ inserted by Act 1 of 2000 9b clause (ii) re lettered as (ia) and after clause (ia) so re lettered ‘ib’ is inserted by Act 1 of 2000 9c substituted as ‘oa’ by Act 1 of 2000 9d, 9e inserted by Act 1 of 2000 9f for clause ‘tt’, clause ‘ta’ and ‘tb’ are substituted by Act 1 of 2000 10 inserted as ‘ii’ by Act 15 of 1997 10a clause ‘oa’ re lettered as ‘ob’ and a clause ‘oa’ inserted by Act 15 of 1997 10b clause ‘tt’ inserted by Act 15 of 1997 11 substituted by Act 9 of 1997 12 substituted by Act 19 of 1987 13 inserted as ‘oa’ & 13a inserted by Act 29 of 1986 13b ‘ia’ substituted, clause ‘ka’, ‘sa’, ‘sb’ inserted by Act 1 of 2019 13b. clause ‘rb’ omitted inserted by Act 1 of 2000 and omitted by Act 1 of 2019. (rb) “State Co- operative Banks” means an apex society having only District Co-operative Banks as its members;