MP Cooperative Society Act (Amendment) -2021

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Ut. meat, stat afar. 388 (2) meager wera, feat 3 atta 2021 MADHYA PRADESH ACT No. 1! or 2021 THE MADHYA PRADESH CO-OPERATIVE SOCIETIES (AMENDMENT) ACT, 2021 TABLE OF CONTENTS Sections : fs Short title and commencement. 2. Amendment of Section 48-A. 3 Amendment of Section 49. 4, Amendment of Section 52 5. Amendment of Section 53. 6. Repeal and saving. Short tithe and commencement. Amendment of Section 48-A. Amendment of Section 49. MADHYA PRADESH ACT THE MADHYA PRADESH CO-OPERATIVE SOCIETIES (AMENDMENT) ACT. 2021 [Received the assent of the Governor on the 2nd April, 2021; assent first published in the “Madhya Pradesh Gavette (Extra-ordinary)"*. dated the 3rd April, 2021.] An Act further to amend the Madhya Pradesh Co-operative Societies Act, 1960). Be it enacted by the Madhya Pradesh Leyislature in the Seventy-second year of the Republic of India as follaws:— I. (1) This Act may be called the Madhya Pradesh Co-operative Societies (Amendment) Act. 202k, (2) {shall come into force from the date of its publication in the Madhya Pradesh Gazette. 2. In Section 48-A of the Madhya Pradesh Co-operative Societies Act. 1960, (No. 17 of 1961) (hereinafter referred to as the principal Act). in sub-sectiion (4).- (i) in clause (a). the words “elected as a Member of Parliament or Member of Legislative Assembly or” shall be omitted. (ii) clause (b) shall be omitted, 3. In Section 49 of the principal Act. in sub-section (7a), in clause (b). in the first proviso, for full stop. colon shall be substituted and thereafter, the following proviso shall be inserted. namely :— “Provided further that. in case of uny Apex or Central Society. if in the opinion of the Registrar. a committee is requir-d to be constituted i. assist the Administrator in the discharge of his duties. the Registrar may appoint 2 committee consisting of following members. namely — a Hee Wass, fears 3 atte 2021 388 (3) (a) a maximum of three members of the said society who are eligible to be elected as a member of the Board of Directors of the society; (b) one representative of the Registrar; (c) one representative of the financing institutions." 4. In Section 52 of the principal Act, in sub-section (5), for clause (a), the following clause shall be substituted, namely :— (a) in the Co-operative Credit Structure, the maximum limit for the share capital of the State Government shall be such as may be notified by the State Government, from time to tirae;". 5. In Secticn 53 of the principal Act—— (i) in sub-section (1), after the first proviso, the following proviso shall be inserted, namely:— “Provided further that, in case of any Apex or Central Society. if in the opinion of the Registrar, a committee in required to be constituted to assist the Administrator in the discharge of his duties. the Registrar may appoint a committee consisting of following members, namely :— (a) a maximum of three members of the said society who are eligible to be elected as a member of the Board of Directors of the society, (b) one representative of the Registrar: (c) one representative of the financing institutions:”. (11) in sub-section (12). in the proviso. for full stop. colon shall be substituted and thereafter the following proviso shall be inserted. nemely :— “Provided further that, in case of any Apex or Central Society. if in the opinion of the Registrar, a committee is required to be constituted to assist the Administrator in the discharge of his duties, the Registrar may appoint a committee consisting of following members; namely :— (a) a maximum of three members of the said society who are eligible to be elected as a member of the Bourd of Directors of the society; (b) one representative of the Registrar; (c) one representative of the financing institutions.”. 6. (1) The Madhya Pradesh Co-operative Societies (Amendment) Ordinance. 2021 (No. !2 of 2021) is hereby repealed. (2) Notwithstanding the repeal of the said Ordinance. anything done or any acticn taken under the said Ordinance shall be deemed to have been done or taken under the corresponding provisions of this Act. Amendment of Section 52. Amendment of Section 53. Repeal and saving.