Amendment status not verified — confirm the current text below against the official source.
“may”, the wOrds‘ “Of theconcerned cohoperative 7 instituti-on shell” shall be substituted: (ii) for sub-sections (2), (3) and (4) the follOmng sub— sections shall be substituted, nam<ely,——‘- “(2) Where the State Government—7 ,_(:1) has assisted indirectly 111 the 1011113131111 1 er agmenfation 01 the share capital of a ' - society,or (b) has SubScribed to the share capitel of a CO—operative society, or 1; (c) has guaranteed in repaymentof principal and payments of interest on loan and 7 7 advances to a co—operative society, tihe State Govemment or any authority specifled by it in this behalf, shall have the right to nominate to the Board, Graverrfment ?offi'cials expert in the line (of the activities of the co-operative-sOc-iéties‘) to the extent of one third of the total'number ’of its members or three members Whichever is less." Provided that the nominees 0f the State Govern- ‘ment or of the financing bank or other‘co-operative institutions shallinotgbe Entitled to vbte at election. 7 C(3) No person shall atthe Sametime, 'be a memberof the Boardof merethan one 1100th of the , same type or category and more than three societies . .of different is in types or categorles ' ‘ (4) No person shall be eligible for being eleeteicl 777or appointed or continued 'as a member of the Board or any committee if he is in default in repayment or payment to any society, including co—operative bank, .4» year from; the date! on which he C‘e‘asedto hold office, for re—electipn or appointment as, member 01 the "Board or, 7 as; the case ’may be, committee of that sdaiety'or":foi‘ election or appointmentto the Board, ‘01" committee of ' any other society”. AW M *5