Amendment status not verified — confirm the current text below against the official source.
(45) "Supersession" means the Act of removing or unseating or dissolving or replacing the duly and democratically elected management committee from its functions and operations, in the larger interest of members of Co-operative, public or Co-operative movement, for managing the affairs of Co-operative, prejudicial to the interest of members Co- operative or detrimental to the business or general affairs and growth of Co-operative. (46) "Surcharge" means the addition or omission done in the preparation and maintenance of accounts for which credit should have been made and involve amounts in official books of accounts not approved by the auditor which amounts are recoverable from such of the persons including officials and employees of Co-operative Society responsible for spending or incurring such expenditure. (47) "Surplus" means the excess of income over expenditure, arrived at, at the end of the financial year after making or making provision for the payment of interest on share capital, tax, if any and before the payment of surplus refund, and allocation of reserves and other funds. (48) "Working Capital" means fund at the disposal of a Co-operative inclusive of paid-up share capital, funds built out of profits, and money raised by borrowing and by any other source. (49) "Winding up or Dissolution" means the act of enabling or allowing an institution activity, subject or thing coming to an end in normal course or bringing or forcing an end to such an institution activity, subject or thing in larger interest of member, public or Co-operative or Co- operative Movement. (50) Works and Expressions not defined in this Act but defined in the Rules shall bearthe meaning as defined in the Rules. 562 CHAPTER II REGISTRAR AND REGISTRATION OF CO-OPERATIVE SOCIETIES