Amendment status not verified — confirm the current text below against the official source.
Definitions.- In this Act, unless the context otherwise requires – (1) "Apex society" means a society whose area of operations extends to the whole of the Union territory of Puducherry and which has as its principal object the promotion of the principal objects and the provisions of facilities for the operations of other societies affiliated to it and declared as such by the Registrar; (2) "associate member" means a member who possesses only such privileges and rights of a member and who is subject only to such liabilities of a member as may be specified in this Act, the rules and the by-laws; (3) "by-laws" means the registered by-laws for the time being in force and includes a registered amendment of the by-laws; (4) "central society" means a society whose area of operations is confined to a part of Puducherry and which has its principal objects the promotion of the principal objects and the provision of facilities for the operations of other societies affiliated to it; * The Act came into force on the 1st day of July, 1974, vide Extraordinary Gazette No.78, dated 29th June, 1974. 47 (5) "Collector means the Chief Officer in charge of Revenue Administration of Puducherry, and includes in relation to any function to be performed by the collector under this Act, such other Gazetted Officer as the Government may, by notification in the Official Gazette, appoint; (6) "committee" means the governing body of a registered society, to whom the management of its affairs is entrusted; (7) "Co-operative Advisory Council" means the council constituted under section 166; (8) "Co-operative bank" means a registered society doing the business of banking and falling under the purview of the Banking Regulation Act, 1949 (Central Act 10 of 1949) (as applicable to co-operative societies); (9) "Co-operative year" means the period commencing on the *[1st day of April] of any year and ending with the *[31st day of March] of the succeeding year or, in the case of any registered society or class of registered societies, the accounts of which are made up to any other date with the previous sanction of the Registrar, the year ending with such date; (10) "financing bank" means a registered society which has as its principal object the lending of money to other registered societies; (11) "Government" means the Administrator appointed by the President under article 239 of the Constitution; (12) "Land Development Bank" means a Co-operative Land Development Bank registered or deemed to be registered under this Act; (13) "member" means a person joining in the application for the registration of a society and a person admitted to membership after registration in accordance with this Act, the rules and the by-laws and includes an associate member; (14) "Officer" includes a President, Vice-President, Chairman, Vice- Chairman, Secretary, Assistant Secretary, treasurer, member of committee, and any other person empowered under the rules or the by-laws to give directions in regard to the business of the society; * Amended by Act No.7 of 1988 which came into force w. e. f 29.06.1988 and sec. 3 of that Act contains the following provisions, namely:- “3. Savings.- Notwithstanding anything contained in the principal Act, as amended by this Act, the Co-operative Year which has commenced on the 1st day of July immediately before the date of commencement of this Act shall be ending with the 31st day of March of the succeeding year after such commencement of this Act”. 48 (15) "Puducherry" means the Union territory of Puducherry; (16) "prescribed" means prescribed by rules made under this Act; (17) "registered society" means a society registered or deemed to be registered under this Act; (18) "Registrar" means a person appointed to perform the duties of a Registrar of Co-operative Societies under this Act, and includes a person on whom all or any of the powers of a Registrar under this Act, have been conferred under section 3; (19) "rules" means rules made under this Act; (20) "Sale Officer" means an officer of the co-operative department empowered by the Registrar by general or special order to attach and sell the property of defaulters or to execute the decisions or award of the Registrar or to execute or carry out any other orders of the Registrar in regard to the attachment and sale of property; (21) "self-reliant society" means a registered society which does not receive assistance in any form from the Government under Chapter VI or from any registered society receiving such assistance from the Government. Explanation – A cash credit with a financing bank for the maintenance of fluid resources shall not be regarded as assistance under this clause, notwithstanding that the financing bank receives assistance from the Government; (22) "society with limited liability" means a registered society the liability of whose members for the debts of the society on its liquidation is limited by its by- laws; (23) "society with unlimited liability" means a registered society, whose members are, on its liquidation, jointly and severally liable for and in respect of all its obligations and to contribute to any deficit in the assets of the society; (24) "Tribunal" means a Tribunal constituted under section 139; (25) "trustee" means the trustee referred to in section 87. 49 CHAPTER - II REGISTRATION