Amendment status not verified — confirm the current text below against the official source.
Definitions.-In this Act, unless the context otherwise requires,- (a) "Additional Registrar" means an Additional Registrar of Co- operative Societies appointed under section 3; (a-i) 'Apex Society' means a society whose principal object is to provide facilities for the operation of other societies affiliated to it and whose are of operation extends to the whole State of Madhya Pradesh; (b) "Assistant Registrar" means an Assistant Registrar of Co- operative Societies appointed under section 3; (b-i) "Area of operation" means the area from which the membership is drawn or as specified in the byelaws of the society; 8 (c) "bye-laws" means the bye-laws registered or deemed to have been registered under this Act and for the time being in force, and includes a registered amendment of the bye-laws; Clause (c-i) - as applicable to M.P. only (c-i) "Central Society" means a Co-operative Land Development Bank or any other society whose area of operation is confined to a part of the State and which has as its principal object the promotion of the principal objects and the provision of facilities for the operation of same type of societies and for other societies affiliated to it and not less than five members of which are societies; Clause (c-i) - as applicable to Chhattisgarh only (c-i) "Central Society" means a District Co-operative Agriculture and Rural Development Bank or any other society, whose area of operation is confined to a part of the State and which has as its object the promotion of the objects of the member societies, and which has at least five societies as its members; (c-ii) "Central Co-operative Bank" means a resource society registered or deemed to be registered under this Act, which is either licensed under the Banking Regulation Act, 1949 (10 of 1949) or permitted by the Reserve Bank of India to do banking business till so licensed, and (i) has area of operation confined to part of the State; and (ii) has as its principal object, the creation of funds and the obtaining credit, goods or services for and providing credit, goods or services as loan to Co-operative Societies affiliated to it for agriculture, industrial and other allied purposes; (c-iii) 'Company' means a Company as defined in section 3 of the Com panies Act, 1956 (1 of 1956); (c-iv) "Co-operative Union" means a registered society which has as its principal object the undertaking of co-operative education, propaganda, training and extension of co-operative services; (d) "Committee" means the Board of a management by whatever name called constituted under section 48; (d-i) "Co-operative Bank" means a State Co-operative Bank, a Central Co-operative Bank, and a Primary Co-operative Bank, registered or deemed to be registered under this Act; (d-ii) "Co-operative credit structure" means the Madhya Pradesh State Co-operative Bank or Central Co-operative Bank or Primary Agriculture Credit Co-operative Society; (e) "Co-operative Society with limited liability" means a society having the liability of its members limited by its bye-laws to the amount, if any, unpaid on the shares respectively held by them or to such amount as they may, respectively, undertake to contribute to the assets of the society in the event of its being wound up; (e-i) "Chief executive Officer" means an individual appointed under section 49-E and who subject to superintendence, control and direction of the Board of Directors, has been entrusted by the Board of Directors with the management of the affairs of the society”; (g) "Consumers' Society" means a society formed with the object of obtaining or producing and processing and distributing goods to or performing other services for its members, as well as for other customers and dividing 9 among its members and customers in a proportion as may be laid down in the bye-laws of such society, the profits accruing from such supply, production, processing and distribution; (g-i) "delegate" means a person elected by a group of individual members to represent them in the general body of the society in accordance with the bye-laws of the society; (g-ii) "Deposit Insurance and Credit Guarantee Corporation" means the Deposit Insurance and Credit Guarantee Corporation established under the Deposit Insurance and Credit Guarantee Corporation Act, 1961 (No.47 of 1961); (h) "Deputy Registrar" means a Deputy Registrar of Co-operative Societies appointed under section 3; Clause (hh) - as applicable to Madhya Pradesh only (hh) "Development Bank" means a Co-operative Land Development Bank registered or deemed to be registered under this Act; Clause (hh) - as applicable to Chhattisgarh only (hh) "Development Bank" means a District Co-operative Agricultural and Rural Development Bank or the Chhattisgarh State Co-operative Agriculture and Rural Development Bank registered or deemed to be registered under this Act; (i) "Family" means a person, his spouse, his children, dependent on him and his other relations dependent on him and jointly residing with him; (j) "Farming Society" means a society formed with the object of promoting development of land and better methods of cultivation, and includes a better farming society, tenant farming society, collective farming society, joint farming society, irrigation society and a crop protection society; (k) "Federal Society" means a society of which not less than fifty per cent of the share capital, excluding Government share capital is held by Societies; (l) "Financing Bank" means a society, the objects of which is the creation of funds to be lent to other societies or its individual members, and includes State Co-operative Bank, Co-operative Agriculture and Rural Development Bank, Central Co-operative Bank, Primary Urban Co-operative Bank and District Co-operative Agriculture and Rural Development Bank; (l-i) “Financing Institution” means a National or State level Co- operative Institution or organization, which provides financial assistance or advance or loan to a Co-operative Society or an individual;”; (m) "General Society" means a society not falling under any of the heads (i) to (ix) specified in sub-section (1) of section 10; Clause (n) as applicable to Madhya Pradesh only "(n)"Housing Society" means a society formed with the object of providing its members with residential accommodation;" (n-i) 'Industrial Society' means a Society formed with the objects of promoting development of weavers, carpenters, metal workers, shoe makers or any other Society which aims at producing finished goods from raw materials of any kind. (o) "Joint Registrar" means a Joint Registrar of Co-operative Societies appointed under section 3: (p) "Liquidator" means a person appointed under section-70; 10 (q) "Marketing Society" means a society formed for the purpose of marketing agricultural or other produce and including among its objects, the supply of the requisites of such production; (r) "Member" means a person joining in the application for the registration of a society or a person admitted to membership after registration in accordance with this Act, the rules and the bye-laws applicable to such society and includes the State Government when it subscribes to the share capital of a society; (s) "Multi-purpose Society" means a society which includes amongst its objects any of the primary objects specified in any two or more of the clauses (g), (n), (v) and (y); (s-i) "National Bank" means the National Bank for Agriculture and Rural Development established under section 3 of the National Bank for Agricultural and Rural Development Act, 1981(No.61 of 1981); (t) "Nominal Member" means a person admitted to membership of a society under section 20; (t-i) "Officer" means a person elected or appointed by a society according to its bye-laws to any office of such society and includes a Chairman, Vice-Chairman, President, Vice-President, Managing Director, Manager, Secretary, Treasurer, Member of the Committee and any other person elected or appointed under this Act, the rules or the bye-laws to give directions in regard to the business of such society; (u) "other backward classes" means category of persons belonging to backward classes as notified by the State Government; (u-i) "Primary Society" means a society which is neither an Apex Society nor a Central Society; (u-ii) "Primary Agriculture Credit Cooperative Society" means a society organized with the main objective of making credit available for agriculture production and includes a Primary, Service Cooperative Society and Adimjati Sewa Sahakari Samiti. (u-iii) 'Primary Co-operative Bank' means a resource society other than a village or urban resource society not registered as bank, the objects of which include creation of funds to be lent to, and obtaining credit to be extended to its Regulation Act, 1949 (10 of 1949) or permitted by the Reserve Bank of India to do banking business till so licensed; (v) "Producers' Society" means a society formed with the object of producing and disposing of goods as a collective property of its members and includes a society formed with the object of the collective disposal of the labour of its members; (w) "Processing Society" means a society formed with the object of producing goods by mechanical or manual process and includes an industrial society and a society for the processing of agricultural commodities; (x) "Registrar" means the Registrar of Co-operative Societies appointed under section 3; (x-i) "Representative" means a member of the society to represent the society in other societies; (x-ii) "Reserve Bank" means the Reserve Bank of India established under the Reserve Bank of India Act, 1934 (No.2 of 1934); 11 (y) "Resource Society" means a society formed with the object of obtaining for its members the credit, goods or services required by them and includes a service society and a primary credit society; (y-i) "Returning Officer" means a person appointed or approved by the Registrar by general or special order for performing the duties of a Returning Officer under this Act or the rules made thereunder and includes an officer subordinate to the Returning Officer nominated in writing by him to perform the duties of Returning Officer and to assist him;”; (y-ii) "Scheduled area" means the area which has been declared under the Scheduled Area (State of Bihar, Gujarat, Madhya Pradesh and Orissa) Order, 1977. (z) "Society" means a co-operative society registered or deemed to be registered under this Act; (z-i) "Specified office" means the office of the President or Chairman and the Vice-President or Vice-Chairman;”; (aa) "State Co-operative Bank" means the Madhya Pradesh State Co- operative Bank, Limited; (bb) "Student" means a person studying in any educational, vocational or training institution; Clause (cc) - as applicable to M.P. only (cc) "Tribunal" means the Madhya Pradesh State Co-operative Tribunal constituted under section 77. Clause (cc) - Omitted in Chhattisgarh only (cc) (xxx) CHAPTER II REGISTRATION