Preamble
Andhra Pradesh Co-operative Societies (Second Amendment) Act, 1999*
| [Andhra Pradesh Act No. 3 of 1999] | [1st January, 1999] |
An Act Further to Amend the Andhra Pradesh Co-operative Societies Act, 1964
Be it enacted by the Legislative Assembly of the State of Andhra Pradesh in the Forty-ninth year of the Republic of India, as follows:-
SOR Statement of Objects and Reasons
STATEMENT OF OBJECT AND REASONS
In order to extend the prescribed period from two years to four years in processing of identification of sick units and transfer of assets and liabilities of such sick units, the Government have decided to amend the sub-section (3) of Section 12A of the Andhra Pradesh Co-operative Societies Act, 1964 suitably.
As the Legislative Assembly of the State was not then in session and so it has been decided to give effect to the above decision immediately, the Andhra Pradesh Co-operative Societies (Amendment) Ordinance, 1998 (Andnra Pradesh Ordinance No. 9 of 1998) was promulgated by the Governor on the 22nd October, 1998.
This Bill seeks to replace the said Ordinance.
Section 1. Short title and commencement
1. Short title and commencement.- (1) This Act may be called the Andhra Pradesh Co-operative Societies (Second-Amendment) Act, 1999.
(2) It shall be deemed to have come into force with effect on and from the 27th September, 1998.
Section 2. Amendment of Section 12A
2. Amendment of Section 12A.- In the Andhra Pradesh Co-operative Societies Act, 1964, (Act 7 of 1964) in section 12A, in sub-section (3) for the words "for a period of two years", the words "for a period of four years", shall be substituted.
Section 3. Repeal of Ordinance 9 of 1998
3. Repeal of Ordinance 9 of 1998.- The Andhra Pradesh Co-operative Societies (Amendment) Ordinance, 1998 is hereby repealed.