Registered No. HSE/49. [Price : Rs.1-00 Pajse
% RIGHT TO
“=J INFORMATION
न
THE ANDHRA PRADESH GAZETTE
PARTIV-B EXTRAORDINARY
PUBLISHED BY AUTHORITY
AMARAVATI, TUESDAY, MAY 15, 2018,
No. 20]
ANDHRA PRADESH ACTS, ORDINANCES AND
REGULATIONS Ete.,
The following Act of the Andhra Pradesh
Governor on the 8 May, 2018 and the said ass
15"May, 2018 in फिट Andhra Pradesh Gazette for
Legislature received the assent of the
ent is hereby first published on the
general information :-
ACT No. 20 of 2018
AN ACT FURTHER TO AMEND THE ANDHRA PRADESH
MUTUALLY AIDED CO-OPERATIVE SOCIETIES ACT, 1995.
Be it enacted by the Legislature of the State of Andhra Pradesh in
the Sixty-ninth Year of the Republic of India as follows :-
1. (1) | This Act may be called the Andhra Pradesh Mutually Aided
Short title and
Co-operative Societies (Amendment) Act, 2018.
commencement,
(2) | It shall come into force on such date as the Government may, by
notification, appoint.
2. IntheAndhra Pradesh Mutuall
yAided Co-operative Societies Act, 1995, Amendment of
in section 14, -
section 14,
Act300f 1995,
() | in sub-section (1), after the
proviso, the following proviso shall be
inserted, namely -
“Provided further that in the case of a coperative society, other than
a cqoperative bank, deposits shall be mobilized only from those mem-
bers who have voting rights in that Cooperative society.”.
(i) | after sub-section (1), the following sub-section shall be inserted,
namely,-
५. 269 /18। F1 1]
2 ANDHRA PRADESH GAZETTE EXTRAORDINARY ___MM[PART IV-B
“(1-A) Notwithstanding anything contained in the sub-section (1),
a cooperative bank may mobilize funds in the shape of deposits,
debentures, loans and other contributions from any person other than
its member, to such extent and under such conditions as may be
permissible under the bye-laws, subject to the provisions of the
Banking Regulation Act, 1949 ”.
Central Act 10
of 1949,
(iii) in sub-section (2),-
| (a) the word “deposits” shall be omitted;
(b) after the existing proviso, the following “Explanation” shall be
added, namely,-
ZExplanation : For the purpose of this section a “cooperative
bank” means a society registered under this Act, which is doing
the business of banking as defined in clause (b) of sub-
section (1) of Section 5 of the Banking Regulation Act, 1949.”.
DUPPALA VENKATARAMANA,
Secretary to Government,
Legal and Legislative Affairs and Justice.
Printed by the Commissioner of Printing, at A.P. Legislative Assembly Printing Press, Amaravati.