Amendment status not verified — confirm the current text below against the official source.
(1) Anysevenor~norcmi~ursowninglnndsinacompaclblock Co-opcnti\rc lzrning or intending ro acquire such land. may form rhemselvcs into n Co- socictics. operative Farming Socie~y and apply in wriiing, in Ibe prescribed form, 10 rhc Rcgislrar, Co-operative Socielies, lor the registration of such sociely under '(the Wes~ Bcngal Co-opcrativc Societies Act, 1973?]. '[West Ben. Acr X W I I I (2) Thc Registrar may, 3C1cr such enquiry as he may deem fir, Ig73-1 register the socjery undcr '[the Wcsl BcngaI Co-opcrativc Societies Acl, 1973?], and gnnr a ceriificate of regislralion and on such regislrarion thc provisions of ' [lhc Wcst Bcngal Co-operalive Socielies Act, 1973?], subjecl ro the special provisions or [his Act, shall apply to such a society and [he society may enlist ncw mcmbcrs in accordance with the rules and bye-laws under the said Acl for the lime being in force. i (3) Whcn a Co-operative Farming Sociery has been regislered under sub-seclion (2), all lands cxcluding horncs~eads, belonging to the members lhercof and forming one compacl block, whclhcr owncd by them aL thc me when they became such members or acquircd by &cm subsequcn~ly, shall vcsl in the society and no member shall be entilled lo hold in his personal capacity any land, cxcluding homestead, which logether with any land belonging to him but vcslcd in hc socicty under [he provisions of his sub-section "exceeds [he ceiling xca applicable lo him under Chaptcr 11-B]. (4) When Ihc lands belonging lo a mcmbcr of a Co-operalive Farming Socieiy vest in such socicty, thcrc shall be atloued lo him shares the value of which will, s Car as possible, bc cqual to h e value of the lands of rhc mcmber veslrd in h e society. 'Thc ~ o t d j md liguws wilhin rhe squarc bnckcls along with thc marginal rclcrcncc \t*trc rubsiiluted far the words md figurcs "thc Bcngal Ceopcn~ivc Socictics Act. 1940" along with the marginal refrrencc "Ben. Act XXI of 1940" by s. 39 of Ihc WCSI Bcngd Land Reforms (Arncndmcnt) Act. 198 I (West Bcn. Act L o f 1981), rv.e.r. 7.8.69. -The Bcng~l Co-openlivc Socicljcs Aci. 1940 (Bcn. Act XX1 of 1940). wm repealcd md rrinactrd by s. 3 nC thc Wcst Brngal Co-apmrive Socierits Act, 1973 (IVest Ben. Act XXXVlIl or 1973). Thc Ialrcr ACI wx again repealed and re-enacted by s. 3 of the \Vest Bcngd Co-opcn~ive Srrcie~ics Act. 1983 (WcrL Bcn. Aci XLV of 1983). 'Thc words. figurns md le~tcr wilhin rhcsqum bnckcts wcrc substituted lor thc words "cxcrzds twenty-five n c m so long as he continues to Lx a rnemkr of the swiely" by s. 21 of ~ht: \Vest Bengd h d Rcfonils (Amendment) Act. 1972 (Wesr Ben. Ac[ XI1 or 1972). The lVesr Be~zgal L A I I ~ Refonns Act, 1955. (5) Notwilhstanding anything clsewhcrc contained in his Act, no Co-operalivt Farming Society shd I have the right lo acquire or hold any land excepl thc land which vesls in it under subsection (3).