Amendment status not verified — confirm the current text below against the official source.
Omitted by G.O.Ms.No.53, Agriculture and Cooperation (Coop-II) Department, dated 20.05.2016. [Act No.7 of 1964] 159 (16) 299[(a) [xxx]] 300[(b) A member of the Managing Committee of a PACS which has been superseded due to a reason mentioned in section 34 (1) (b) (i), (ii) and (iii) shall not be entitled to contest again to any Co-operative Society for a period of five years after supersession.] (17) The bye-laws of the Co-operative Credit Society shall be registered by the Registrar within 30 (thirty) days from the date of receipt of application: Provided that if the Registrar is satisfied that the proposed bye-law are contrary to the provisions of the Act and the rules made thereunder, he shall reject the same duly recording his reasons thereon within 30 (thirty) days from the date of the receipt of application. (18) The prudential norms including Capital to Risk Weighted Assets Ratio (CRAR) shall be prescribed by the Registrar for all the PACS in consultation with NABARD. (19) The Directors/Chief Executive Officers of APCOB and a DCCB who do not fulfil the fit and proper criteria stipulated by RBI shall be removed by the Registrar/Appointing Authority at the request of NABARD/RBI. 300[(20) There shall be co-option, of not more than two professionals on the Managing Committee of the APCOB/DCCB as per the provisions of section 31 (1) (e) of this Act, and in case, such professionals as stipulated by the RBI do not get elected to the Committee.]