Amendment status not verified — confirm the current text below against the official source.
(1) No yerson, other then a. society registered, or deemed to be registered; under this Act and a. person or his successor in interest of any name 01’ title under which this Act comes into {w:ee, she‘ll without the eenction of the State GoVernment function, traée or carry on business under any name or title of Which the werd “Co—eperative,” or its equivalent in, any Indian language, forms part. (:2) Every person eentravening the provisions of the foregoing subsection shall, on conviction, be yunished With fine Which may be extended to five hundred rupees. , 14:6° It shall be an offence under this Act, iféu (as) (b) (0) (d) (e) (f) (g) (h) (i) (i) (1!) any member of a. Society transfers any property or interest in contravention of subsection (2) of section 47 or any peISOn knowingly acquires, 01' abets in the acquisition of, such groperty; or any employer end every director, manager, secretary or other officer or agent acting on behalf of such employer Who, without sufficient cause, fails to comply with subsection (2) of section 49 ; or a Board of a, Society or an officer or member thereof fails toinvest funds of such society in the manner required by section 70; or any person, collecting share money for a. society in formation, does not Within a, reasonable period deposit the same in the State Co-operative Bank 01‘ a Central Covoperative Bank or an Urban Co-operative Bank, era. Postal Saving Bank; or any person, collecting the share money for a society in forma- tion, make use of the funds so raisad for conducting any business or trading in the name of a society to be registered or otherwise; or a. oommitee of a, society, or an officer or member thereof, fails to comply with the provisions of sub-sections .(2), (3) or (4) of section 75 ; 'or any officer or member of a Society who is in possession of information, books and records, fails to furnish. such informa- tion or produce books and papers, or give assistance to a person appointed or authorised by the State Government or the Registrar under sections 78,81,83,94 or 103 ; or any officer of a. society fails to hand over the custody of books, records, cash, security and other property belonging to the society of which he is an officer to a, person appointed under section 78 or 103 ; or a. Board of a. society with a working capital of fifty thousand rupees or more, or any officer or a. member thereof, fails Withoutany reasonable excuse to give any notice, send any return or document, do or allow to be done or comply with orders made under section 79 ; or a. Board of a society or an officer or member thereof wilfully neglects or refuses to do any act, or to furnish any informa« tion required for the purposes of this Act by the Registrar, or other person duly authorised by him in writing in this behalf ; or a. Board _of a Society, or an officer or member thereof, wilfully makes a. false fetu‘rn, or. furnishes falsa information, or fails to maintain proper aeoounts ; or £51 m5 Punishment: for offences under section 146 {1) , (m) (0) ((1) any effiecr. memher‘ ageet or" eerVant of a Seeiety fails to comply with the reqeifements ei Subseectigfl {fit of eeetion 81 ; or , any effieer or member ef Society wilfully fails to comely with any decision; award 01‘ erder pegged. under section 96 ; or - a member of a society fraudulently dispeees of property over which the Society has a prier claim, 01‘ a member or officer or empioyer or any person riispeses of his property by sale, transfer, mortgage, gift or otherwise, with the fraudulent intention of evading the dues of the society ; or any officer of a society wilfully reeommende o: sanctions for his own personal use or benefit or for the use or benefit of a person in whom he is interested, a loan in the name of any other persen ; or any officer or member of a Society destroys, mutilatee, tampers with, or etherWiSe alters, falsifies or secrets or is privy to the destructimn mutilation, aitemtion‘ falsification or secreting of any books, paper or security or makes, or is; privy to the making of any fame or fraudulent entry in any register, book of account 0.13 document belonging to the society ; 01‘ any officer or member of a seciety or any person does any ~aet deciareé by the rules to be an offence. Explanatienw—‘Fer the purpose of this section, an officer or a. member referred to in the seetion shall include past officer and past member, as the case may be.