Amendment status not verified — confirm the current text below against the official source.
(1) No court inferior to the court of a Metropolitan Magistrate or a Judicial Magistrate of the first class shall try any offence under this Act. (2) For the purpose of the Code of Criminal Procedure, 1973 every offence under this Act shall be deemed to be non-cognizable. (3) Notwithstanding anything contained in the Code of Criminal Procedure, 1973, an offence punishable under section 403 of the Indian Penal Code, 1860 in respect of any movable property of a Co-operative society shall be cognizable. (4) No prosecution shall be instituted under this Act, without the previous sanction of the Registrar. (5) A prosecution under this Act shall be institued by the Registrar or any person authorised by him in this behalf. All expenses for a prosecution institued on the request of a Co-operative society shall be borne by or recoverable from such Co-operative society.