Sikkim Co-operative Societies (Amendment) Act, 1992*
| [Sikkim Act No. 7 of 1992] | [23rd September, 1992] |
An Act further to amend the Sikkim Co-operative Societies Act, 1978.
BE it enacted by the Legislative Assembly of Sikkim in the Forty-third Year of the Republic of India as follows:-
* Received the assent of the Governor on the 23rd day of September, 1992 and published in the Sikkim Government Gazette, Extraordinary, No. 17/LD/1992, Dated: 28th September, 1992.
1. Short title and commencement.- (1) This Act may be called the Sikkim Co-operative Societies (Amendment) Act, 1992.
(2) It shall be deemed to have come into force with effect from the 1st day of April, 1992.
2. Amendment section 2.- In the Sikkim Co-operative Societies Act, 1978 (hereinafter referred to as the principal Act), in section 2, for clause (e), the following clause 12 of 1978 shall be substituted namely:-
(e) "Co-operative year" means the period beginning from the 1st day of April, or the date of commencement of business, or the date of registration of the society and ending on the 31st day of March every year for the purpose of drawing balance sheets of registered societies.
3. The period from 1st July, 1991 to 31st March, 1992 to be the Co-operative year for the Amendment section 26.- Notwithstanding anything contained in section 2 the Co-operative year for the year immediately preceding the date of commencement of this Act shall be the period beginning from the 1st day of July, 1991 or the date of commencement of business, or as the case may be, the date of registration of the society, and ending on the 31st day of March, 1992 for the purpose of drawing balance sheets of registered societies for that period.
4. In the principal Act, for the proviso to section 26, the following proviso shall be substituted, namely:-
"Provided that in respect of certain class of societies as the Government may, by notification in the Official Gazette specify a member other than the Government or any other society, may hold share exceeding the prescribed limit".