SectionsParticulars
Preamble
Preamble.- An Act to consolidate and amend the law relating to cooperative societies with objects not confined to one State and serving the interests of membe...
Chapter IPreliminary
1Short title, extent and commencement
Chapter I: Preliminary1. Short title, extent and commencement.- 1.     This Act may be called the Multi-State Cooperative Societies Act, 1984.2.     It ex...
2Application
2. Application.- This Act shall apply to :a.     All cooperative societies, with objects not confined to one State, which were incorporated before the comme...
3Definitions
In this Act, unless the context otherwise requires:a.     "board" means the board of directors or the governing body of a multi-State cooperative society b...
Chapter IICentral Registrar and Registration of Societies
4Central Registrar
 Chapter II: Central Registrar and Registration of Societies4. Central Registrar.- 1.     The Central Government may appoint a person to be the Central Regi...
5Multi-State Cooperative Societies which may be registered
5. Multi-State Cooperative Societies which may be registered.- 1.     No multi-State cooperative society shall be registered under this Act, unless the main...
6Application for registration
6. Application for registration.- 1.     For the purposes of registration of a multi-state cooperative society under this Act, an application shall be made ...
7Registration
7. Registration.- 1.     If the Central Registrar is satisfied -a.     that the application complies with the provisions of this Act and the rules;b.    that...
8Registration certificate
8. Registration certificate.- Where a multi-State cooperative society is registered under this Act, the Central Registrar shall issue a certificate of regist...
9Amendment of bye-laws of a multi-State Cooperative Society
9. Amendment of bye-laws of a multi-State Cooperative Society.- 1.     No amendment of any bye-laws of a multi-State Cooperative society shall be valid, unl...
10When amendment of bye-laws comes into force
10. When amendment of bye-laws comes into force.- An amendment of the bye-laws of a multi-State Cooperative society shall, unless it is expressed to come int...
11Change of name
11. Change of name.- 1.     A multi-State cooperative society may, by an amendment of its bye-laws, change its name but such change shall not affect any righ...
12Change of address
12. Change of address.- Every multi-State cooperative society shall have a principal place of business and an address registered in the manner prescribed to ...
13Liability
13. Liability.- 1.     No multi-State cooperative society with unlimited liability shall be registered after the commencement of this Act:Provided that where...
14Amalgamation or transfer of assets and liabilities or division of multi-State Cooperative Societies
14. Amalgamation or transfer of assets and liabilities or division of multi-State Cooperative Societies.- 1.     A multi-State cooperative society may, with...
15Central Registrar to prepare scheme of amalgamation or reorganisation of cooperative bank in certain cases
When an order of moratorium has been made by the Central Government under sub-section (2) of section 45 of the Banking Regulation Act, 1949 in respect of a c...
16Liability of a cooperative bank to the Deposit Insurance and Credit Guarantee Corporation
16. Liability of a cooperative bank to the Deposit Insurance and Credit Guarantee Corporation.-Notwithstanding anything contained in section 14 or any other p...
17Cancellation of registration certificate of multi-State cooperative societies in certain cases
17. Cancellation of registration certificate of multi-State cooperative societies in certain cases.- 1.     Where the whole of the assets and liabilities of...
18Equal treatment of parties
1.     A cooperative society may, by an amendment of its bye-laws, extend its jurisdiction and convert itself into a multi-State cooperative society:Provide...
Chapter IIIMembers of Multi-State Cooperative Societies and Their Rights and Liabilities
19Persons who may become members
Chapter III: Members of Multi-State Cooperative Societies and Their Rights and Liabilities19. Persons who may become members.- 1.     No person shall be adm...
20Members not to exercise rights till due payment made
20. Members not to exercise rights till due payment made.- No member of a multi-State cooperative society shall exercise the rights of a member, unless he ha...
21Expulsion of members
21. Expulsion of members.- 1.     A multi-State cooperative society may, by resolution passed by a majority of not less than two thirds of the members prese...
22Votes of members
22. Votes of members.- Every member of a multi-State Cooperative society, including a member who is an employee of such society, shall have one vote in the a...
23Manner of exercising vote
23. Manner of exercising vote.- Every member of a multi-State cooperative society shall exercise his vote in person and no member shall be permitted to vote ...
24Restrictions on holding of shares
24. Restrictions on holding of shares.- No member, other than any of the authorities referred to in clauses (c) to (g) of sub-section (1) of section 19 or a ...
25Restrictions on transfer of shares or interest
25. Restrictions on transfer of shares or interest.- The transfer of the share or interest of a member in the capital of a multi-State cooperative society sh...
26Redemption of share
26. Redemption of share.- Shares held in a multi-State Cooperative society by any of the authorities referred to in clauses (c) to (g) of sub-section (1) of ...
27Transfer of interest on death of members
27. Transfer of interest on death of members.- 1.     On the death of a member of multi-State cooperative society may transfer the share or interest of the ...
28Liability of past member and estate of deceased member
28. Liability of past member and estate of deceased member.- 1.     Subject to the provisions of sub-section (2), the liability of a past member or of the e...
Chapter IVDirection and Management of Multi-State Cooperative Societies
29General body, its constitution, powers and functions
Chapter IV: Direction and Management of Multi-State Cooperative Societies29. General body, its constitution, powers and functions.- 1.     The general body ...
30Annual general meeting of the general body
30. Annual general meeting of the general body.- 1.     Every multi-State cooperative society shall, within such period as may be prescribed, after the clos...
31Special general meeting of the general body
31. Special general meeting of the general body.- 1.     The Chief Executive may, at any time, on the direction of the board, call a special general meeting...
32Board of directors
32. Board of directors.- Subject to the provisions of this Act and the rules, there shall be a board of directors for every multi-State cooperative society c...
33Association of employees in the management decision making process
33. Association of employees in the management decision making process.- Every multi-State cooperative society shall devise such procedure, as may be specifie...
34Disqualification for a member of a board
34. Disqualification for a member of a board.- No member of any multi-state cooperative society or nominee of a member-society on a national cooperative soci...
35Election of members of board
35. Election of members of board.- 1.     The superintendence, direction and control of the preparation of the electoral rolls for, and the conduct of, elec...
36Holding of office in cooperative society
36. Holding of office in cooperative society.- Notwithstanding any thing contained in this Act, no person shall be eligible to hold, at the same time, office...
37Food Safety Officer
37. Restrictions on holding of office.- No person shall be eligible to hold the office of a president or chairman or vice-president or vice-chairman on the b...
Chapter XMiscellaneous
38Payment of honorarium
38. Payment of honorarium.- Honorarium may be paid to the elected chairman or president of the board out of the profits of the multi-State cooperative societ...
39Removal of elected members by general body
39. Removal of elected members by general body.- An elected member of a board who has acted adversely to the interests of multi-State cooperative society may...
40Removal of member by Central Registrar
40. Removal of member by Central Registrar.- If in spite of cessation of office under circumstances mentioned in Section 34, Section 36, Section 37 or Sectio...
41Nominee of Central Government or State Government on the board
41. Nominee of Central Government or State Government on the board.- 1.     Where the Central Government or a State Government has subscribed to the share c...
42Powers and functions of the board
42. Powers and functions of the board.- 1.     The board may exercise all such powers as may be necessary or expedient for the purpose of carrying out its f...
43Meetings of the board
43. Meetings of the board.- 1.     The Chief Executive shall convene the meetings of the board at the instance of the chairman or president of the multi-Sta...
44Chief Executive
44. Chief Executive.- 1.     There shall be Chief Executive, by whatever designation called, of every multi-State cooperative society, to be appointed by the...
45Powers and functions of Chief Executive
45. Powers and functions of Chief Executive.- The Chief Executive shall exercise the powers and discharge the functions, specified below, namely:-a.     day...
46Committees of the board
46. Committees of the board.- 1.     The board may, subject to such conditions as may be prescribed, constitute an Executive Committee and other committees ...
47Central Government's power to give directions in public interest
47. Central Government's power to give directions in public interest.- If the Central Government is satisfied that in the public interest or for the purposes ...
48Supersession of board
1.     If in the opinion of the Central Registrar the board of any multi-State cooperative society is persistently making default or is negligent in the pe...
49Securing possession of records, etc.
49. Securing possession of records, etc.- 1.     If – a.     the records (including registers and books of accounts) of a multi-State cooperative society a...
50Constitution of body of persons for preparation of list, etc.
50. Constitution of body of persons for preparation of list, etc.- The Central Government shall -a.     constitute a body of persons in the manner prescribe...
51Acts of multi-State cooperative societies not to be invalidated by certain defects
51. Acts of multi-State cooperative societies not to be invalidated by certain defects.- No act of a multi-State cooperative society or of any board or of any...
Chapter VPrivileges of Multi-State Cooperative Societies
52Multi-State Cooperative Society to be body corporate
Chapter V: Privileges of Multi-State Cooperative Societies52. Multi-State Cooperative Society to be body corporate.- The registration of a multi-State cooper...
53Charge and set off, in respect of share or contribution or interest of member
53. Charge and set off, in respect of share or contribution or interest of member.- A multi-State cooperative society shall have a charge on the share or cont...
54Share or contribution or interest not liable to attachment
54. Share or contribution or interest not liable to attachment.-1.     Subject to the provisions of section 53, the share or contribution or interest of a m...
55Register of member
55. Register of member.- Any register or list of members or shares kept by any multi-State cooperative society shall be prima facie evidence of any of the fo...
56Admissibility of copy of entry as evidence
56. Admissibility of copy of entry as evidence.- 1.     A copy of any entry in a book of a multi-State cooperative society regularly kept in the course of i...
57Exemption from compulsory registration of instruments
57. Exemption from compulsory registration of instruments.- Nothing in clauses (b) and (c) of sub-section (1) of section 17 of the Registration Act, 1908, sh...
58Deduction from salary to meet multi-State Cooperative Society's claim in certain cases
58. Deduction from salary to meet multi-State Cooperative Society's claim in certain cases.- 1.     Notwithstanding anything contained in any law for the tim...
59Government aid to multi-State Cooperative Societies
59. Government aid to multi-State Cooperative Societies.- Notwithstanding anything contained in any law for the time being in force, the Central Government o...
Chapter VIProperties and Funds of Multi-State Cooperative Societies
60Funds not to be divided by way of profit
Chapter VI: Properties and Funds of Multi-State Cooperative Societies60. Funds not to be divided by way of profit.- 1.     No part of the funds, other than ...
61Disposal of net profits
61. Disposal of net profits.- 1.     A multi-State cooperative society shall out of its net profits in any year -a.     transfer an amount not less than twe...
62Investment of funds
62. Investment of funds.- A multi-State cooperative society may invest or deposit its funds -a.     in a cooperative bank, State cooperative bank, cooperati...
63Restrictions on loans
63. Restrictions on loans.- 1.     A multi-State Cooperative society, other than a cooperative bank, shall not make a loan -a.     to a member on the secur...
64Restrictions on borrowing
64. Restrictions on borrowing.- A multi-State cooperative society shall receive deposits and loans only to such extent and under such conditions as may be sp...
65Restrictions on other transactions with non-members
65. Restrictions on other transactions with non-members.- Save as provided in section 63 and 64, the transaction of a multi-State cooperative society with an...
66Contributory Provident Fund
66. Contributory Provident Fund.- 1.     A multi-State cooperative society having such number or class of employees as may be prescribed may establish a con...
Chapter VIIAudit, Inquiry, Inspection and Surcharge
67Audit
Chapter VII: Audit, Inquiry, Inspection and Surcharge67. Audit.- 1.     The Central Registrar shall audit, or cause to be audited by a person authorised by ...
68Inspection of multi-State cooperative Societies
68. Inspection of multi-State cooperative Societies.- 1.     The Central Registrar, or any person authorised by him by general or special order in writing i...
69Inquiry by Central Registrar
69. Inquiry by Central Registrar.- 1.     The Central Registrar may, of his own motion or on the application of a majority of the members of the board or of...
70Inspection of books of indebted multi-State cooperative societies
70. Inspection of books of indebted multi-State cooperative societies.- 1.     The Central Registrar shall, on the application of a creditor of a multi-State...
71Cost of inquiry and inspection
71. Cost of inquiry and inspection.- Where an inquiry is held under section 69 or an inspection is made under section 70, the Central Registrar may apportion...
72Recovery of costs
72. Recovery of costs.- Any sum awarded by way of costs under section 71 may be recovered, on application to a magistrate having jurisdiction in the place wh...
73Repayment, etc.
73. Repayment, etc.- 1.     If in the course of an audit, inquiry, inspection or the winding up of a multi-State cooperative society, it is found that any pe...
Chapter VIIISettlement of Disputes
74Disputes
Chapter VIII: Settlement of Disputes74. Disputes.- 1.     Notwithstanding anything contained in any other law for the time being in force, if any dispute (o...
75Limitation
75. Limitation.- 1.     Notwithstanding anything contained in the Limitation Act, 1963, but subject to the specific provisions made in this Act, the period o...
76Settlement of disputes
76. Settlement of disputes.- 1.     The Central Registrar may, on receipt of the reference of dispute under section 74.a.     elect to decide the dispute hi...
Chapter IXWinding Up of Multi-State Cooperative Societies
77Winding Up of Multi-State Cooperative Societies
Chapter IX: Winding Up of Multi-State Cooperative Societies77. Winding Up of Multi-State Cooperative Societies.- 1.     If the Central Registrar, after an i...
78Winding up of cooperative banks at the direction of Reserve Bank
78. Winding up of cooperative banks at the direction of Reserve Bank.- Notwithstanding anything to the contrary contained elsewhere in this Act, the Central R...
79Reimbursement to the Deposit Insurance Corporation by liquidator
79. Reimbursement to the Deposit Insurance Corporation by liquidator.- Where a cooperative bank, being an insured bank within the meaning of the Deposit Insur...
80Liquidator
80. Liquidator.- 1.     Where the Central Registrar has made an order under section 77 for the winding up of a multi-State cooperative society, the Central R...
81Powers of liquidator
81. Powers of liquidator.- 1.     Subject to any rules made in this behalf, the whole of the assets of a multi-State cooperative society in respect of which...
82Disposal of surplus assets
82. Disposal of surplus assets.- The surplus assets, as shown in the report of a liquidator of a multi-State cooperative society which is wound up;a.     ma...
83Priority of contributions assessed by liquidator
83. Priority of contributions assessed by liquidator.- Notwithstanding anything contained in any law relating to insolvency the contribution assessed by a li...
84Power of Central Registrar to cancel registration of a multi-State Cooperative Society
84. Power of Central Registrar to cancel registration of a multi-State Cooperative Society.- 1.     The Central Registrar may, after considering the report o...
Chapter XExecution of Decrees, Orders and Decisions
85Execution of decisions, etc.
Chapter X: Execution of Decrees, Orders and Decisions85. Execution of decisions, etc.- Every decision or order made under section 30, section 31, section 73,...
86Execution of orders of liquidator
86. Execution of orders of liquidator.- Every order made by the liquidator under section 81 shall be executed according to the law for the time being in forc...
87Attachment before award
87. Attachment before award.- 1.     Where the Central Registrar is satisfied that a party to any reference made to him under section 74 with intent to defe...
88Central Registrar or the person authorised by him to be civil court for certain purposes
88. Central Registrar or the person authorised by him to be civil court for certain purposes.- The Central Registrar or any person authorised by him in writin...
89Recovery of sums due to Government
89. Recovery of sums due to Government.- 1.     All sums due from a multi-State cooperative society, or from an officer or member or past member of a multi-...
Chapter XIAppeals and Revision
90Appeals
Chapter XI: Appeals and Revision90. Appeals.- 1.     Subject to the provisions of section 91, an appeal shall lie under this section against -a.     an orde...
91No appeal or revision in certain cases
91. No appeal or revision in certain cases.- Notwithstanding anything contained in this Act, where with the previous sanction in writing of or on requisition...
92Revision
92. Revision.- 1.     Subject to the provisions of section 91, the Central Government may, of its own motion or on an application, call for and examine the r...
93Review
93. Review.- 1.     The appellate authority under section 90 may, on the application of any party interested, review its own order in any case and pass in re...
94Interlocutory orders
94. Interlocutory orders.- Where an appeal is made under section 90 or where the Central Government calls for the records of a case under section 92, the app...
Chapter XIISocieties Which Become Multi-State Cooperative Societies Consequent on Re-organisation of States
95Cooperative societies functioning immediately before re-organisation of States
Chapter XII: Societies Which Become Multi-State Cooperative Societies Consequent on Re-organisation of States95. Cooperative societies functioning immediatel...
Chapter XIIIOffences and Penalties
96Offences
Chapter XIII: Offences and Penalties96. Offences.- 1.     A multi-State cooperative society or an officer or member thereof wilfully making a false return o...
97Cognizance of offences
97. Cognizance of offences.- 1.     No court inferior to that of a Metropolitan Magistrate or a Judicial Magistrate of the first class shall try any offence...
Chapter XIVMiscellaneous
98Copy of Act, rules and bye-laws etc., to be open to inspection
Chapter XIV: Miscellaneous98. Copy of Act, rules and bye-laws etc., to be open to inspection.- Every multi-State cooperative society shall keep a copy of thi...
99Power to exempt multi-State Cooperative Societies from conditions as to registration
99. Power to exempt multi-State Cooperative Societies from conditions as to registration.- 1.     Notwithstanding anything contained in this Act, the Central...
100Liquidator to be public servant
100. Liquidator to be public servant.- Any person appointed as liquidator under the provisions of this Act shall be deemed to be a public servant within the ...
101Notice necessary in suits
101. Notice necessary in suits.- No suit shall be instituted against a multi-State cooperative society or any of its officers in respect of any act touching ...
102Certain Acts not to apply
102. Certain Acts not to apply.- 1.     The provisions of the Companies Act, 1956 and the Monopolies and Restrictive Trade Practices Act, 1969 shall not app...
103Savings of existing multi-State Cooperative Societies
103. Savings of existing multi-State Cooperative Societies.- 1.     Every multi-State cooperative society existing immediately before the commencement of th...
104Power to amend second Schedule
104. Power to amend second Schedule.- 1.     f the Central Government is satisfied that any multi-State cooperative society should be designated as a nation...
105Bar of jurisdiction of courts
105. Bar of jurisdiction of courts.- 1.     Save as otherwise provided in this Act, no court shall have jurisdiction in respect of -a.     the registration ...
106Powers of civil court
106. Powers of civil court.- 1.     In exercising the functions conferred on him by or under this Act, the Central Registrar, or any other person deciding a...
107Indemnity
107. Indemnity.- No suit, prosecution or other legal proceedings shall lie against the Central Registrar or any person subordinate to him or acting on his aut...
108Opening of branches
108. Opening of branches.- 1.     Notwithstanding anything contained to the contrary in any law relating to cooperative societies in force in a State, a mul...
109Power to make Rules
109. Power to make Rules.- 1.     The Central Government may, by notification, make rules to carry out the provisions of the Act.2.     In particular, and...
110Repeal
110. Repeal.- The Multi-unit Cooperative Societies Act, 1942 is hereby repealed....
The ScheduleSchedule
The First Schedule
First ScheduleSee Section 3 (f)Cooperative Principles1.     Membership of a multi-State cooperative society (hereafter in this Schedule referred to as the s...
The Second Schedule
Second Schedule(See Section 3 (m) and 104)List of national cooperative societies1.     National Cooperative Land Development Banks Federation Limited, Hyder...
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