Amendment status not verified — confirm the current text below against the official source.
(1) The Government may, for the whole or any part of the State of Tripura, and for any co-operative society or class of co-operative societies, after previous publication, make rules to carry out the purpose of this Act. (2) In particular, and without prejudice to the generality of the foregoing power, such rules may-- (i) subject to the provisions of section 3, prescribe the delegation of powers vested in the Registrar to persons appointed to assist the Registrar ; (ii) prescribe the forms to be used and the conditions to be complied with in the making of applications for the registration of a society under section 8 and the procedure in the matter of such application ; (iii) prescribe the matters in respect of which a society may make,or the Registrar may direct a society to make, bye-laws and the procedure to be followed in making, altering and abrogating bye-laws and the conditions to be satisfied prior to such making alteration or abrogation ; (iv) prescribe the procedure to be followed and conditions to be observed for change of name or liability, amalgamation, transfer, division, conversion or reconstruction of society; (v) prescribe the forms of, and procedure for, an application under section 19 and the procedure for reconstruction of a society under that section ; (vi) prescribe the conditions to be complied with by a person applying for admission or admitted as a members and provide for the election and admission of members and the payment be made and the interests to be acquired before the exercise of the right of membership ; Notice necessary in suits. Power to make rules 80 (vii) prescribe in the case of a federal society or class of federal societies the proportion of individual members to society members in such society or class of societies and the proportion of individual members to society members in the committee of such society or class of societies; (viii) subject to the provisions of section 28, prescribe the maximum number of shares or portion of the capital of a society which may be held by a member ; (ix) prescribe the procedure for the admission of joint members, members of a joint Hindu undivided family, and minors and persons of unsound mind inheriting the share or interest of deceased members and provide for their rights and liabilities ; (x) provide for the withdrawal, or expulsion of members and for the payments to them and for the liabilities of past members and the estate of deceased members ; (xi) prescribe the conditions and procedure for the transfer of share or interest; (xii) provide for the nomination of a person to whom the share or the interest of a deceased member may be paid or transferred; (xiii) provide for ascertaining the value of a share or interest of a past member or a deceased member ; (xiv) prescribe the payments to be made and the conditions to be complied with by members applying for loans, the period for which loans may be made, and the amount which may be lent to an individual member ; (xv) provide for the inspection of documents in the Registrar’s office and the levy of fee granting certified copies of the same ; (xvi) provide for the procedure for registering the address of a society and the change of its address ; (xvii) provide for the formation and maintenance of a register of members, and where the liability of members is limited by shares, of a register of shares and a list of members ; (xviii) provide for securing that the share capital of any society shall be variable in such a way as may be necessary to secure that the share shall not appreciate in value and that necessary capital shall be available for the society as required ; (xix) provide for the procedure to be adopted by a society with limited liability in order to reduce its share capital ; (xx) * prescribe the period for, and the terms upon which, Government aid may be given to societies and terms under which the Government may subscribe to the share capital of and guarantee the payment of the principal of and interest on debentures issued by societies ; (xxi) regulate the manner in which funds may be raised by a society or class of societies by means of shares or debentures or otherwise, and the quantum of funds so raised ; 81 (xxii) prescribe the limits for loans to be granted by a society or class of societies against different classes of securties of without security and the procedure for granting loans ; (xxiii) prescribe the manner of recalling a loan ; (xxiv) prescribe the limits for granting credit by a non-credit society or a class of non-credit societies ; (xxv) prescribe the prohibition and restrictions subject to which societies may trade or transact business with persons who are not members ; (xxvi) prescribe the conditions on which any charge in fovour of a society shall be satisfied and the extent to which and the order in which the property charged shall be used in its satisfaction ; (xxvii) provide for givng reasonable notice of the charge under section 50 ; (xxviii) prescribe the procedure by which a society shall calculate and write off bad debts ; xxix) prescribe the sums which, in addition to those referred to in sub-section (1) of section 57, shall be deducted from profits before arriving at the profit for the purpose of sub section (2) of section 57 ; (xxx) provide for the formation and maintenance of reserve fund, and the objects to which such fund may be applied and for the investment and use of any fund including reserve fund under the control of a society ; (xxxi) prescribe the conditions under which profits may be distributed as dividend and bonus among the members and non-members of a society ; (xxxii) prescribe the rate at which a society shall contribute towards the educational fund of the federal society under section 60 ; (xxxiii) define the co-operative purpose for which a society shall, under section 61, utilise its fund ; (xxxiv) prescribe the mode of investment of funds of a society under section 62 and the proportion of investment in any security or class of securities; (xxxv) provide for the payment of contribution to any provident fund which may be established by a society for the benefit of officers and servants employed by it and for the administration of such provident fund ; (xxxvi) prescribe the procedure and conditions for the exercise by a federal society of the powers conferred by this Act ; (xxxvii) provide for general meetings of the members, for the procedure at such meetings and the powers to be exercised by such meetings ; (xxxviii) prescribe the conditions in which a member of a society may be disqualified from voting ; (xxxix) provide for the appointment, suspension of the members of the committee and other officers and for the appointment of administrator under section 74 and prescribe the procedure to be followed at the meeting of the committee and the powers to be exercised and the duties to be performed by the committee, administrator and other officers ; 82 (xL) prescribe the qualifications for members of the committee and employees of a society or class of societies and the conditions of service subject to which persons may be employed by societies ; (xLi) prescribe the returns to be submitted by a society of the Registrar and provide for the persons by whom and the form in which such returns shall be submitted ; (xLii) provide for the persons by whom and the form in which copies of documents and entries in books of societies may be certified and the charges to be levied for the supply of copies thereof ; (xLiii) provide for the procedure to be adopted by the Registrar in the cases where the taking of possession of books, documents, securities, cash and other properties of a society or of a society the affairs of which have been ordered to be wound up, by the Registrar or by a person entitled to the same is resisted or obstructed ; (xLiv) provide for the procedure to be adopted for taking possession of books, documents, securities, cash and other property of a society by a person acting under section 79, 81 and 82 in cases where misappropriation of funds, breach of trust or fraud has been committed or where it is suspected or apprehended that the books, documents, securities, cash and other properties are likely to be tampered with or destroyed or removed ; (xLv) prescribe the accounts and books to be kept by a society or class of societies ; (xLvi) prescribe the procedure for conducting an audit, the matters on which the auditor shall submit a report, the form in which the statement of accounts shall be prepared for his audit, the limits within which the auditor may examine the monetary transactions of a society, the form of audit, memorandum and report and the charges, if any, to be paid by a society for audit ; (xLvii) prescribe the procedure for appointment of auditors under section 79 ; (xLviii) prescribe the form for the rectification of detects discovered in the course of audit, inspection or inquiry ; (xLix) prescribe the procedure and principles for the conduct of inquiry under section 81 and inspection under section 82 ; ( L ) prescribe the procedure for apportioning the cost of inquiry and inspection and for assessing damages against delinquent promoters under section 88 and for recovery of cost and damages; (Li) prescribe the manner in which appointment shall be made and control exercised by, and the number of person comprising, and functions to be performed by, the authority constituted under section 90, the manner of election and nomination of such persons, the fees to be paid to such authority and the manner of such payment and the procedure for and the method of calculating any cost, charges or expenses required to be levied under this Act or the rules ; (Lii) provide for appointment of the Registrar’s nominee or board of nominees, procedure to be followed in proceedings before the Registrar or his nominee or board of nominee and for fixing and levying the expenses for determining the dispute and for enforcing the decisions or awards in such proceedings ; (Liii) prescribe the form in which a dispute shall be referred to the Registrar ; (Liv) provide for the issue and service of processes and for proving of service thereof ; 83 (Lv) provide for the investigation of claims and objections that may be preferred against any attachment effected by the Registrar ; (Lvi) prescribe the procedure for and the method or recovery of any sums due under this Act or the rules ‘ (Lvii) prescribe the procedure to be followed for the custody of property attached under section 97 ; (Lviii) prescribe the procedure to be followed in the execution of awards ; (Lix) prescribe the manner in which any property shall be delivered to, and the terms and conditions subject to which such property shall be held by, a society under section 103 ; (Lx) prescribe the procedure for attachment and sale of property for the realisation of any security given by a person in the course of execution of proceedings; (Lxi) prescribe the procedure and conditions for the exercise of the powers conferred under section 108 and the procedure to be followed by a Liquidator and provide for the disposal of surplus assets ; (Lxii) prescribe the matters in which an appeal shall lie from the order of a Liquidator appointed under section 106 ; (Lxiii) prescribe the procedure and conditions for the issue, redemption re-issue, transfer, replacement or conversion of debentures issued by a society to which chapter XII is applicable ; (Lxiv) prescribe the maximum amount of principal, the rate of interest and other conditions for the guarantee of debentures issued by a society to which Chapter XII is applicable ; (Lxv) prescribe the qualifications and methods of appointment of an officer to effect sale under section 133 and the powers and functions which such an officer may exercise; (Lxvi) prescribe the appointment of a receiver of the produce and income of the mortgaged property for sale under section 133, the conditions in which he may be appointed or removed, the powers and functions which he may exercise and the expenses of management and remuneration which he may receive ; (Lxvii) prescribe the circumstances in which action may be taken by a co-operative land development bank against a mortgagor under sub-section (2) of section 133 ; (Lxviii) prescribe, in case of sale immovable property under Chapter XII _ (a) 0the procedure for proclamation and conduct of the sale and the conditions on which an attempt of sale may be abandoned. (b) the method of calculating the expenses incidental to the sale or attempted sale. (c) the procedure for the receipt of deposit and disposal of the proceeds of sale, (d) the procedure for a re-sale if an attempted sale is abandoned or the purchase money is not deposited within the prescribed time and the penalty to be levied against the purchaser who fails so to deposit the purchase money, 84 (e) the form and method of disposal of money by a co-operative land development bank under section 135, (f) the form of sale certificate under section 136, (g) the procedure for the delivery of the property purchased to the purchaser under section 136, (h) the form of the notice referred to in section 142, and (i) the fee payable for the service of such notices and the manner of serving such notices, on and of the transmitting land-lord’s fee to, the landlord named in such notices ; (Lxix) prescribe the time within which and the procedure according to which property purchased by a co-operative development bank at a sale of immovable property under Chapter XII shall be disposed of by the bank; (Lxx) prescribe the procedure to be followed in presenting and disposing of appeals ; (Lxxi) prescribe the qualifications of the members of the Tribunal ; (Lxxii) prescribe in the case of appeals lying to the Government the authority to which power or hearing appeals may be delegated; (Lxxiii) prescribe the method of communicating or publishing any order, decision or award required to be communicated or published under this Act or the rules ; (Lxxiv) provide that the contravention of any of the rules shall be an offence under the Act ; and (Lxxv) provide for all other matters expressly required or allowed by this Act to be prescribed by rules. (3) In making any rule under this Act the Government may direct that any person committing a breach thereof shall, on conviction by a court, be punishable with fine which may extend to fifty rupees and where the breach is a continuing one, with further fine which may extend to ten rupees for every day after the first breach during which the breach continues subsequent to such conviction. (4) Every rule made under this section shall be laid as soon as may be after it is made before the Legislative Assembly of Tripura while it is session for a total period of fourteen days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session in which it is so laid or the session immediately following, the House agrees in making any modification in the rule or the House agrees that the rule should not be made, the rule shall thereafter have effect only in such modified form or be or no effect, as the case may be ; so however, that any modification or annulment shall be without prejudice to the validity of anything done under that rule.