Amendment status not verified — confirm the current text below against the official source.
(1) Any two or more co-operative societies with prior permission of the Registrar, may by resolution passed by the majority of the members present and voting at a general body meeting of each of such co-operative societies, may enter into partnership to carry out any one or more specific business. Written notice of the general body meeting shall be given to each member before fifteen clear days of such meeting. [(1A) Detailed project report for the formation of such partnership of co-operative societies shall be prepared by the societies concerned and the same shall be submitted to the general bodies of such societies for approval. (1B) The project report approved by the general bodies of the societies shall be submitted to the Government through the Registrar for the approval of the formation of such partnership of co-operative societies, in the manner as may be prescribed. (1C) The Registrar shall conduct audit, inspection and verification of records in such societies, in the manner as may be prescribed. (1D) In the case of raising of fund for such partnership prior sanction of the Government shall be obtained by the partnership of co-operative societies, in the manner as may be prescribed.] (2) The partnership shall be in the interest of the members of the co-operative society or the co-operative societies or shall be in the public interest or shall be in the interest of the co-operative movement in general and it does not mean to be a partnership firm registered under Indian Partnership Act, 1932 (Central Act 9 of 1932).] Inserted by Act 8 of 2013 w.e.f. 14-02-2013. Inserted by Act 9 of 2024 published in K.G.Ext. No.1829 dt. 07/06/2024 (w.e.f. 07/06/2024).