ORDERS AND DECISIONS
SECTION - 62
62. Enforcement of charge.
Nothwithstanding anything contained in Chapter VIII or any other law for the time being in force, but without prejudice to any other mode of recovery provided in this Act, the Registrar or any person subordinate to him empowered by the Registrar in this behalf may, on the application of a co-operative society, make an order directing the payment of any debt or outstanding demand due to the society by any member or past or deceased member, by sale of the property or any interest therein, which is subject to a charge under section 31:
Provided that no order shall be made under this section unless the member, past member or the nominee, heir or legal representative of the deceased member, has been served with a notice in the manner prescribed.
SECTION - 63 1 [63. Execution of certain decisions, awards and orders :-
Every decision, award or order duly passed under section 54, 56, 62, 68 or 69 shall, if not carried out-
(a) on a certificate signed by the Registrar or any person authorised by him in this behalf, be deemed to be a decree of a civil court and shall be executed in the same manner as decree of such court; or
1. Substituted byPunjab Act No. 26 of 1969, section 13 w.e.f. 10th September, 1969
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(b) be executed by the Registrar or any other person subordinate to him, empowered by the Registrar in this behalf, by the attachment and sale or by sale without attachment of any property of the person or of the co-operative society against whom the order, decision or award has been obtained or passed;or
(c) be executed according to the law for the time being in force for the recovery of arrears of land revenue :
Provided that an application for the recovery of any sum in the last aforesaid manner shall be made to the Collector and shall be accompanied by a certificate signed by the Registrar or any person authorised by him in this behalf.],
SECTION - 64
64. Execution of orders of liquidator :-
The orders of the liquidator under section 59 shall be executed according to the Act and under the rules for the time being in force for the recovery of arrears of land revenue.
SECTION - 65
65. Attachment before award:-
Where the Registrar is satisfied that a party to any reference made to him under section 55 with intent to defeat or delay the execution of any decision that may be passed thereon is about to -
(a) dispose of the whole or any part of the property; or
(b) remove the whole or any part of the property from the local limits of the jurisdiction of the Registrar, the Registrar may,
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unless adequate security is furnished, direct the conditional attachment of the said property or such part thereof as he thinks necessary. Such attachment shall be executed by a civil court having jurisdiction in the same way as an attachment order passed by itself and shall have the same effect as such an order :
Provided that the powers of the Registrar under this section shall not be delegated to any officer below such rank as may be prescribed.
SECTION - 66
66. Registrar or person empowered by him to be civil court for certain purposes :-
The Registrar or any person empowered by him in this behalf shall be deemed, when exercising any powers under this Act for the recovery of any amount by the attachment and sale or by the sale without attachment of any property, or when passing any orders on any application made to him for such recovery or for taking a step-in-aid of such recovery, to be civil court for the purposes of Article 182 of the First Schedule to the Indian Limitation Act, 1908 (9 of 1908).
SECTION - 67
67. Recovery of sums due to Government.
(1) All sums due from a co-operative society, or from an officer or member or past member of a co-operative society as such, to Government, including any costs awarded to Government under any provision of this Act, may on a certificate issued by the
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Registrar in this behalf, be recovered in the same manner as arrears of land revenue.
(2) Sums due from a co-operative society to Government and recoverable under sub-section (1) may be recovered, firstly, from the property of the society, secondly, in the case of a society the liability of the members of which is limited, from the members, past members or the estates of deceased members, subject to the limit of their liability; and, thirdly, in the case of other societies, from the members, past members or the estates of the deceased members;
Provided that the liability of past members and the estates of deceased members shall in all cases be subject to the provisions of section 22.
SECTION - 67 - A 67-A. Recovery of certain loans as arrears of land revenue :-
1 [(1) Notwithstanding anything contained in section 55 or section 56 or section 63, a co-operative society may apply to the Registrar for the recovery of arrears of any loan advanced by it to any member, together with interest accrued thereon and when such an application is made it shall be accompanied by an up -to- date statement of accounts in respect of such loan and interest thereon.]
2 [(2) The Registrar may, on receipt of an application under sub-section (1) or suo moto, after making such enquiries as he deems fit and after affording the member concerned an opportunity of being heard, grant a certificate in the prescribed form for the recovery of the amount due from such member on account of loan and interest thereon.
1. Substituted by Punjab Act No. 15 of 1978, section-2.
2. Inserted by Punjab Act No. 3 of 1978, section 4, w.e.f. 16th November, 1977
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(3) Subject to the order, if any, that may be passed in appeal under section 68, the certificate granted by the Registrar under sub-section (2) shall be final and conclusive and the amount specified therein as due from the member on account of loan and interest thereon shall be recovered in the same manner as arrears of land revenue.]
CHAPTER XI
APPEALS AND REVISION
SECTION - 68
68. Appeals.
(1) An appeal shall lie under this section against-
(a) an order of the Registrar made under sub-section (2) of section 8 refusing to register a society;
(b) an order of the Registrar made under sub-section (4) of section 10 refusing to register an amendment of the bye-laws of a co-operative society;
1 [(bb) an order of the Registrar made under section 10.-A directing amendment of bye-laws of a co-operative society;];
(c) a decision of a co-operative society, other than a producer's society, refusing to admit any person as a member of the society who is otherwise duly qualified for membership under the bye-laws of the society;
(d) a decision of a co-operative society expelling any of its members;
2 [(e) an order made by the Registrar removing or suspending a committee or a member thereof under Section 27;];
1. Inserted by Punjab Act No. 26 of 1969 section 14 w.e.f. 10th September, 1969
2. Substituted by ibid
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(f) an order made by the Registrar under section 52 apportioning the costs of an inquiry held under section 50 or an inspection made under section 51;
(g) any order of surcharge under section 54;
(h) any decision or award made under section 56;
(i) an order made by the Registrar under section 57 directing the winding up of a co-operative society;
(j) any order made by the liquidator of a co-operative society in exercise of the powers conferred on him by section 59;
(k) any order made under section 65 ;and 1 [(l) grant of a certificate under sub-section (2) of section 67-A for the recovery of the amount due from a member on account of loan and interest thereon.]
2 [(2) An appeal against any decision or order under sub-section (1) shall be made within sixty days from the date of decision or order,
(a) if the decision or order was made by the Assistant Registrar to the Deputy Registrar;
(b) if the decision or order was made by the Deputy Registrar to the Registrar or such Additional Registrar or Joint Registrar as may be authorised by the Registrar in this behalf;
(c) if the decision or order was made by the Joint Registrar or Additional Registrar, to the Registrar;
(d) if the decision or order was made by the Registrar, to the Government; and
1. Inserted by Punjab Act No. 3 of 1978 section 5 w.e.f. 16th November, 1977
2. Substituted by Punjab Act No. 26 of 1969, section 14 w.e.f. 10th September, 1969
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(e) if the decision or order was made by any other person, to the Registrar or such Additional Registrar or Joint Registrar or Deputy Registrar or Assistant Registrar as may be authorised by the Registrar in this behalf.
(3) No appeal shall lie under this section from any decision or order made by any authority in appeal.
(4) Any appeal under sub-section (1) pending immediately before the commencement of the Punjab Co-operative Societies (Amendment ) Act, 1969, before any authority shall stand transferred to the authority to whom such appeal lies on such commencement.].
SECTION - 69 1 [69. Revision.
The State Government and the Registrar may, suo moto or on the application of a party to a reference, call for and examine the record of any proceedings in which no appeal under section 68 lies to the Government or the Registrar, as the case may be, for the purpose of satisfying itself or himself as to the legality or propriety of any decision or order passed and if in any case it appears to the Government or the Registrar that any such decision or order should be modified, annulled or revised, the Government or the Registrar, as the case may be, may, after giving persons affected thereby an opportunity of being heard, pass such order thereon as it or he may deem fit.]
1. Substituted by Punjab Act No. 26 of 1969, section 15 w.e.f. 10th September, 1969
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SECTION - 70
7. Interlocutory orders :
Where an appeal is made under section 68 or where the 1 [Government or the Registrar] calls for the record of a case under section 69, the appellate authority or the [Government or the Registrar], as the case may be, may, in order to prevent the ends of justice being defeated, make such interlocutory orders, including an order of stay, pending the decision of the appeal or revision as such authority or the [Government or the Registrar] may deem fit.
2 [ CHAPTER XI-A] 3 [INSURED CO-OPERATIVE BANK] SECTION -70-A
70-A Order for winding up, reconstruction, supersession of Committee etc. of Insured Co-operative Bank. - Notwithstanding anything contained in this Act,3[in the case of an insured co-operative bank,] -
(1) an order for winding up or an order sanctioning a scheme of compromise or arrangement or of amalgamation or 4 [reconstruction including division or reorganisation] of the bank may be made only with the previous sanction in writing of the Reserve Bank of India;
(2) an order for the winding up of the bank shall be made by the Registrar if so required by the Reserve Bank of India in the circumstances referred to in section 13-D of the Deposit Insurance and Credit Guarantee Corporation Act, 1961 (Central Act 47 of 1961.)
1. Substituted for the word "Government" by the Act 26 of 1969, section 16 w.e.f. 10th September, 1969
2. Chapter XI-A inserted by Punjab Act 12 of 1981 section 2
3. Substituted by Punjab Act 15 of 1994, section 2
4. Substituted by Punjab Act 12 of 1981, section 2
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(3) if so required by the Reserve Bank of India in the public interest or for preventing the affairs of the bank being conducted in the manner deterimental to the interests of the depositors or for securing the proper management of the bank, an order shall be made by the Registrar for supersession of the committee of the bank and the appointment of an administrator therefor for such period or periods not exceeding five years in the aggregate, as may from time to time be specified by the Reserve Bank of India, and the administrator so appointed shall after the expiry of his term of office continue in office until the day immediately preceding the date of the first meeting of the committee of such bank;
(4) an order for winding up of the bank or an order sanctioning a scheme of compromise or arrangement or of amalgamation or
1 [reconstruction including division or reorganisation] or an order for the supersession of the committee of the bank and the appointment of an administrator therefor made with the previous sanction in writing or on the requisition of the Reserve Bank of India shall be final and shall not be liable to be called in question in any manner in any Court; and
(5) the liquidator or 2[insured co-operative bank] or the transferee bank, as the case may be, shall be under an obligation to repay the Deposit Insurance and Credit Guarantee Corporation Act, 1961 (Central Act 47 of 1961) in the circumstances, to the extent and in the manner referred to in section 21 of the Act.
Explanation-In this section, -
(a) the expression " co-operative bank" shall have the meanings
1. Inserted by Punjab Act 12 of 1981, section 2
2. Substituted by Punjab Act 15 of 1994, section 2
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assigned to it in the Deposit Insurance and Credit Guarantee Corporation Act, 1961 (Central Act 47 of 1961);
(b) the expression " insured co-operative bank"1[means a co-operative society] which is an insured bank under the provisions of the Deposit Insurance and Credit Guarantee Corporation Act, 1961 (Central Act 47 of 1961); 2 [(bb) the expression "Reserve Bank of India" means the Reserve Bank of India constitued under the Reserve Bank of India Act,
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with fine which may extend to two hundred rupees and in the cases of a continuing breach with a further fine which may extend to five rupees for every day during which the breach is continued after conviction for the first such breach.
(2) Any member or past member or the nominee, heir or legal representative of a deceased member of a co-operative society who contravenes the provisions of sections 31 and 32 by disposing of any property in respect of which the society is entited to have a first charge under that section or do any other act to the prejudice of such claim, shall be punishable with fine which may extend to five hundred rupees.
(3) A co-operative society or an officer or member thereof wilfully making a false return or furnishing false information, or any person wilfully or wihtout any reasonable excuse disobeying any summons, requisition or lawful written order issued under the provisions of this Act or wilfully not furnishing any information required from him by a person authorised in this behalf under the provisions of this Act, shall be punishable with fine which may extend to two hundred rupees.
(4) Any employer who, without sufficient cause, fails to pay to a co-operative society the amount deducted by him under section 39 within a period of fourteen days from the date on which such deduction is made shall, without prejudice to any action that may be taken against him under any law for the time being in force, be punishable with fine which may extend to five hundred rupees.
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(5) Any officer or custodian who wilfully fails to handover custody of books, records, cash, security and other property belonging to a co-operative society, of which he is an officer or custodian, to a person entitled under sections 26,48,49,50 or 58 shall be punishable with fine which may extend to two hundred rupees and in the case of a continuing breach with a further fine which may extend to1[ twenty-five rupees] for every day during which the breach is continued after conviction for the first such breach.
(6) Any person who fradulently acquires or abets in the acquisition of any such property which is subject to a charge under sections 31 and 32 shall be punishable with fine which may extend to two hundred rupees.
SECTION - 72
72. Cognizance of offence.
(1) No court inferior to that of a2[Judicial Magistrate ] of the first class shall try any offence under this Act.
(2) No prosecution shall be instituted under this Act without the previous sanction of the Registrar and such sanction shall not be given without giving to the person concerned a reasonable opportunity to represent his case.
SECTION -73
73. Address of Societies.
Every co-operative society shall have an address registered in the manner prescribed to which all notices and communications may be sent, and shall send to the Registrar notice of every change thereof within thirty days of such change.
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SECTION-74
74. Copy of Act, rules and bye-laws, etc. to be open to inspection.
Every co-operative society shall keep a copy of this Act, the rules and its bye-laws and also a list of its members, open to inspection free of charge at all reasonable times at the registered address of the society.
SECTION-75
75. Prohibition against the use of the word " co-operative" .
No person other than a co-operative society shall trade or carry on business under any name or title of which the word
"co-operative" or its equivalent in any Indian language is part:
Provided that nothing in this section shall apply to the use by any person or his successor in interest of any name or title under which he carried on business at the date on which the Co-operative Societies Act,1912 (2 of 1912). came into operation.
SECTION-76
76. Power to exempt societies from conditions as registration:-
Notwithstanding anything contained in this Act, Government may, by general or special order and subject to such conditions, if any, as it may impose, exempt any society or class of societies from any of the requirements of this Act as to registration.
SECTION-77 1 [77. Power to exempt.
Where the Government is satisfied that it is necessary so to
1. Substituted by Punjab Act No. 26 of 1969, section 18 w.e.f. 10.9.1969
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do for furthering any object of the society or class of societies specified in its or their bye-laws, it may, by a general or special order, published in the Official Gazette, exempt such society or class of societies from any provision of this Act].
SECTION-78
78. Liquidator to be public servant.
Any person apointed as liquidator under the provisions of this Act or the rules shall be deemed to be a public servant within the meaning of section 21 of the Indian Penal Code.
SECTION -79
79. Notice necessary in suits.
No suit shall be instituted against a co-operative society or any of its officers in respect of any act touching the business of the society until the expiration of three months next after notice in writing has been delivered to the Registrar or left at his office, stating the cause of action, the name, description and place of residence of the plaintiff and the relief which he claims, and the plaint, shall contain a statement that such notice has been so delivered or left.
SECTION-80
80. Companies Act not to apply.
The provisions of the Companies Act, 1956(1 of 1956), shall not apply to co-operative societies.
SECTION-81
81. Saving of existing societies.
(1) Every society now existing which has been registered under
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the Co-operative Credit Societies Act,1904, or under the Co-operative Credit Societies Act, 1912 or under the Punjab Co-operative Societies Act, 1954 shall be deemed to be registered under the corresponding provisions of this Act , and its bye-laws shall, so far as the same are not inconsistent with the express provisions of this Act, continue in force untill altered or rescinded.
(2) All appointments, rules and orders made, notifications and notices issued and suits and other proceedings instituted under the said Acts shall, so far as they are consistent with the provisions of this Act, be deemed to have been respectively made, issued and instituted under this Act, save that an order made cancelling the registration of a society shall be deemed, unless the society has already been finally liquidated, as an order issued under section 57 for its being wound up.
SECTION -82
82. Bar of jurisdiction of courts :-
(1) Save as provided in this Act, no civil or revenue court shall have any jurisdiction in respect of -
(a) the registration of a co-operative society or its bye-laws or of an amendment of a bye-law;
(b) the removal of a committee;
(c) any dispute required under section 55 to be refered to the Registrar; and
(d) any matter concerning the winding up and the dissolution of a co-operative society.
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(2) While a co-operative society is being wound up, no suit or other legal proceedings relating to the business of such society shall be proceeded with or instituted against, the liquidator as such or against the society or any member thereof, except by leave of the Registrar and subject to such terms as he may impose.
(3) Save as provided in this Act. no order, decision or award made under this Act shall be questioned in any court on any ground whatsoever.
SECTION - 83
83. Powers of civil court :- (1) In exercising the functions conferred on it by or under this Act, the Registrar, the arbitrator or any other person deciding a dispute under section 56 and the liquidator of a co-operative soicety or person entitled to audit, inspect or hold an inquiry shall have all the powers of a civil court, while trying a suit, under the Code of Civil Procedure, 1908 (5 of 1908 ), in repect of the following matters namely-
(a) summoning and enforcing the attendance of any person and examining him on oath:
(b) requiring the discovery and production of any document :
(c) proof of facts by affidavits: and
(d) issuing commissions for examination of witnesses.
(2) In the case of an affidavit, any officer appointed by the Registrar, the arbitrator or any other person deciding a dispute and the liquidator, as the case may be, may administer the oath to the deponent.
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SECTION -84
84. Indemnity.
No suit, prosecution or other legal proceeding shall lie against the Registrar or any person subordinate to him or acting on his authority in respect of anything in good faith done or purporting to have been done under this Act.
1 [84-A. Constitution of common cadre of employees of certain societies.
(1) An apex society may suo moto, and when required to do so by the Registrar, shall constitute a common cadre of all or specified class of employees in the service of that society or in the service of the central societies which are members of the apex society or in the service of the primary societies which are members of the apex society or the aforesaid societies.
(2) When a common cadre is consituted under sub-section (1) the apex society shall make rules for the regulation of recruitment and conditions of service of such employees with the prior approval of the Registrar.].
2 [84-B. Dearness allowance. Notwithstanding anything contained in this Act or any other law for the time being inforce, or any agreement, settlement of award, no employee of a co-operative society shall be paid dearness allowance at a rate higher than that admissible to the employees of the Government drawing pay at the same rate.].
SECTION -85
85. Rules
(1) The Government may, for any co-operative society or class of
1. Inserted by Punjab Act No. 26 of 1969, section 19 w.e.f. 10.9.1969
2. Inserted by Punjab Act 26 of 1981, section 2
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such societies, make rules to carry out the purposes of this Act.
(2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely -
(i) the maximum number of shares or portion of the capital of a co-operative society which may, subject to the proivisions of section 6, be held by a member :
(ii) the form to be used and the conditions to be complied with in the making of applications for the registration of a society and the procedure in the matter of such applications;
(iii) the procedure and contitions for change in the form and extent of the liability of a co-operative society;
(iv) the matters in respect of which the society may or shall make bye-laws and for the procedure to be followed in making, altering and abrogating bye-laws and the conditions to be satisfied prior to such making, alteration or abrogation;
(v) the conditions to be complied with by persons applying for admission or admitted as members, for the election and admission of members, and for the payment to be made and the interest to be acquired before the exercise of the right of membership:
(vi) the manner in which funds may be raised by means of shares and debentures or otherwise;
(vii) for general meeting of the members and for the procedure at such meetings and the powers to be exercised by such meetings:
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(viii) the prohibitions and restrictions subject to which societies which may transact business with persons who are not members;
(ix) the proportion of individuals and societies in the constitution of the committee of management and the general body of a co-operative society of which another co-operative society is a member;
(x) subject to the provisions of section 26, the election and nomination of members of committees, the appointment or election of officers and the suspension and removal of the members and other officers, and for the powers to be exercised and the duties to be performed by the committees and other officers;
1 [(xa)restrictions on transactions of officers and past officers with the co-operative society:
(xb) the manner in which share of individuals shall be retired under sub-section (2) of section 15-A;
(xc) election of members of representative general body under sub-section (1A) of section 23 and the number of members of a co-operative society required under that sub-section; (xd) the area of agricultural land, the conditions required to be fulfilled and the manner of co-option, for the purpose of section 26-A;]; 2 [(xe) the manner in which the vacancies caused as a result of retirement of members of a committee shall be filled;];
(xi) the appointment and regulation of work entrusted to person or persons replacing the committee in pursuance of section 27;
1. Inserted by Punjab Act No. 26 of 1969, section 20 w.e.f. 10.9.1969
2. Inserted by Punjab Act No. 3 of 1978, section 6 (i) w.e.f. 16.11.1977
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(xii) prohibiting a co-operative society from electing a defaulting member on its committee or to be its representative;
(xiii) the accounts and books to be kept by a co-operative society, the audit of such accounts and the charges, if any, to be made for such audit, and for the periodicial publication of a balance-sheet showing the assets and liabilities of a co-operative society;
(xiv) the returns to be submitted by a co-operative society to the Registrar, the persons by whom and the form in which such returns shall be submitted and in case of failure to submit any such returns for the levy of expenses of preparing it;
(xv) the persons by whom and the form in which copies of the entries in books of societies may be certified and for the charges to be levied for the supply of such copies;
(xvi) the formation and maintenance of a register of members and where the liability of the members is limited by shares, of a register of shares;
(xvii) the appointment of an arbitrator to decide disputes;
(xviii) the procedure to be followed in proceedings before the Registrar, arbitrator or other persons deciding disputes including the appointment of a guardian for a party to the dispute who is minor or who, by reason of unsoundness of mind or mental infirmity, is incapable of protecting his interest, and the levy of the expenses relating to such proceedings;
(xix) the withdrawal and expulsion of members and for the payments, if any, to be made to members who withdraw or are expelled
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and for the liability of past members and of the estates of deceased members;
(xx) the mode in which the value of a deceased member's share of interest shall be ascertained and for the nomination of a person to whom such share or interest may be paid or transferred;
(xxi) the payments to be made and conditions to be complied with by members applying for loans, the period for which any loans may be made and the maximum amount which may be lent, to any member;
1 [(xxia) the form of certificate to be issued under sub-section (2) of section 67-A;]
(xxii) the formation and maintenance of reserve funds and other funds and the objects to which such funds may be applied, and for the investment of any funds under the control of a co-operative society;
(xxiii) the extent to which a co-operative society may limit the number of its members;
(xxiv) the conditions under which profits may be distributed to the members of a co-operative society with unlimited liability, and the maximum rate of dividend which may be paid by co- operative societies;
(xxv) the calculation and writing off of bad debts by co-operative societies;
(xxvi) the procedure to be followed by a liquidator appointed under section 58 in respect of provisions of section 59;
1. Inserted by Punjab Act No. 3 of 1978, section 6 (i) w.e.f. 16.11.1977
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(xxvii) the procedure to be followed in presenting and disposing of appeals under this Act;
(xxviii) the form of orders referred to in sections 63 and 64;
(xxix) the issue and service of processes and for proof of service thereof;
(xxx) the manner of effecting attachment;
(xxxi) the custody, preservation and sale of property under attachment;
(xxxii) the investigation of claims by persons other than the defaulter to any right or interest in the attached property, and for the postponement of the sale pending such investigation; (xxxiii) the immediate sale of perishable articles;
(xxxiv) the inspection of documents in the office of the Registrar or of any other officer or authority and the levy of fees for granting certified copies of the same;
(xxxv) the terms and conditions on which Government may make share-capital contribution or give assistance, financial or other, to societies and the terms and conditions on which Government may gurantee the payment of the principal or interest on debentures issued by societies or loans raised by them;
(xxxvi) the manner in which funds may be raised by a society or a class of societies by means of shares or debentures or otherwise and the quantum of funds so raised; (xxxvii) for giving reasonable notice of the charge under sections 31 and 32;
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(xxxviii) qualifications for members of the committee and employees of a society or class of societies and the conditions of service subject to which persons may be employed by societies;
(xxxix) the method of communicating or publishing any order, decision or award required to be communicated or published under this Act or the rules.
(3) Every rule made under this section shall be laid as soon as may be after it is made before1[**] the State Legislature while it is in session for a total period of ten days which may be comprised in one session or in two successive sessions, and if before the expiry of the session in which it is laid or the session immediately following2[the Legislature] agree in making any modification in the rule or2[the Legislature] agree that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be, so however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule.
SECTION - 86
86. Repeal and Saving.
The Punjab Co-operative Societies Act, 1954 (14 of 1955), is hereby repealed, but notwithstanding such repeal, anything done or any action taken under the repealed Act shall, to the extent of being consistent with this Act, be deemed to have been done or taken under this Act.
1. The words " each House of" omitted by the Adaptation of Punjab Laws order 1970.
81
THE PUNJAB CO-OPERATIVE SOCIETIES ACT, 1961
(PUNJAB ACT 15 OF 1961)
SECTION CONTENTS Pages CHAPTER-I : PRELIMINARY
1. Short Title, Extent and Commencement 3
2. Definition 3
CHAPTER -II : REGISTRATION OF CO-OPERATIVE SOCIETIES
3. Registrar and other officers and their powers 5
4. Societies which may be registered. 6
5. Restrictions on registration 6
6. Restrictions on holding of shares 6
7. Application for registration 7
8. Registration 7
9. Registration Certificate 8
10. Amendment of bye-laws of a co-operative society 8 10-A. Power to direct amendment of bye-laws of co-operative society. 9
11. Change of name 10
12. Change of liability 10
13. Amalgamation, transfer of assets and liabilities and division 11 of Cooperative Societies.
14. Cancellation of registration certificates of co-operative 15 societies in certain cases.
CHAPTER III : MEMBER OF CO-OPERATIVE SOCIETIES
AND THEIR RIGHTS AND LIABILITIES
15. Persons who may become members. 17 15-A. Restrictions on individuals in becoming members of 17 certain co-operative societies.
15-B. Provision for admission as members in the case of certain societies. 18
16. Nominal or associate members. 19
17. Member not to exercise rights till due payment made. 19
82
18. Votes of Members. 19
19. Manner of exercising vote. 20
20. Restriction on transfer of shares or interest. 20
21. Transfer of interest on death of member. 20
22. Liability of past members and estate of deceased member 22
CHAPTER IV : MANAGEMENT OF CO-OPERATIVE SOCIETIES
23. Final authority in a co-operative society 23
24. Annual general meeting 24
25. Special general meeting 24
26. Election and nomination of members of committees. 25 26-A. Co-option of members. 29
26-B. Restriction on membership, etc. 30
27. Removal or Suspension of Committee or member thereof. 31
28. Securing possession of records etc. 33
29. Acts of co-operative societies not to be invalidated 33 by certain defects.
CHAPTER V : PRIVILEGES OF CO-OPERATIVE SOCIETIES
30. Co-operative societies to be bodies corporate. 34
31. First charge of co-operative societies in certain assets. 34
32. Charge on immovable property of members borrowing 35 loans from certain societies.
33. Charge and set off in respect of share of contribution 37 or interest of members.
34. Share or contribution or interest not liable to attachment. 38
35. Register of members. 38
36. Admissibility of copy of entry as evidence. 38
37. Exemption from compulsory registration of instruments. 39
38. Exemption from certain taxes, fees and duties. 40
39. Deduction from salary to meet co-operative society's 41 claim in certain cases.
40. Other forms of State aid to Co-operative Societies. 42
83
CHAPTER VI : PROPERTIES AND FUNDS OFCO-OPERATIVE SOCIETIES
41. Funds not to be divided by way of profit. 43
42. Contribution to charitable purpose. 43
43. Contribution to Co-operative Education Fund. 44
44. Investment of funds. 44
45. Restrictions on loans. 45
46. Restrictions on borrowings. 45
47. Restrictions on other transactions with non members. 45
CHAPTER VII : AUDIT, INQUIRY, INSPECTION AND SURCHARGE
48. Audit 46
49. Inspection of societies. 47
50. Inquiry by Registrar 48
51. Inspection of books of indebted societies. 49
52. Costs of inquiry. 50
53. Recovery of costs. 50
54. Surcharge. 51
CHAPTER VIII : SETTLEMENT OF DISPUTES
55. Disputes which may be referred to arbitration. 52
56. Reference of disputes to arbitration. 53
CHAPTER IX : WINDING UP OF CO-OPERATIVE SOCIETIES
57. Windings up of co-operative societies. 54
58. Liquidator. 55
59. Power of Liquidator 56
60. Priority of contributions assessed by liquidator. 58
61. Power of Registrar to cancel registration of a co-operative society. 58
CHAPTER X : EXECUTION OF AWARDS, DECREES, ORDERS AND DECISIONS
62. Enforcement of charge. 59
63. Execution of certain decisions, awards and orders, of liquidator. 59
64. Execution of orders of liquidator 60
65. Attachment before award 60
84
66. Registrar or person empowered by him to be civil court for certain purposes. 61
67. Recovery of sums due to Governemnt 61 67-A. Recovery of certain loans as arrears of land revenue. 62
CHAPTER XI : APPEALS AND REVISIONS
68. Appeals. 63
69. Revision 65
70. Interlocutory orders. 66
CHAPTER XI-A : INSURED CO-OPERATIVE BANK
70-A. Order for winding up, reconstruction, supersession of committee etc. of Co-operative Banks. 66
CHAPTER XII : OFFENCES AND PENALTIES
71. Offences. 68
72. Cognizance of offences. 70
73. Address of Societies. 70
74. Copy of Act, rules and bye-laws, etc. to be open to inspection. 71
75. Prohibition against the use of word "Co-operative: 71
76. Powers to exempt societies from conditions as to registraion. 71
77. Power to exempt. 71
78. Liquidator to be public servant. 72
79. Notice necessary in suits. 72
80. Companies Act not to apply. 72
81. Savings of existing societies 72
82. Bar of jurisdiction of courts. 73
83. Powers of civil courts. 74
84. Indemnity. 75 84-A. Constitution of Common Cadre of employees of certain societies. 75 84-B Dearness Allowance 75
85. Rules 75
86. Repeal and savings. 81
85
THE PUNJAB COOPERATIVE
SOCIETIES ACT, 1961
(AS AMENDED UPTO MARCH, 2004)
AND
THE PUNJAB COOPERATIVE
SOCIETIES RULES, 1963
(AS AMENDED UPTO MARCH, 2004)
Printed & Published by :
THE PUNJAB STATE COOPERATIVE
DEVELOPMENT FEDERATION LIMITED
49, INDUSTRIAL AREA, PHASE-I, CHANDIGARH Phone : 2655794 Fax : 2650757
86
THE PUNJAB COOPERATIVE
SOCIETIES ACT, 1961
(AS AMENDED UPTO MARCH, 2004)
AND
THE PUNJAB COOPERATIVE
SOCIETIES RULES, 1963
(AS AMENDED UPTO MARCH, 1993)
Printed & Published by :
THE PUNJAB STATE COOPERATIVE
DEVELOPMENT FEDERATION LIMITED
49, INDUSTRIAL AREA, PHASE-I, CHANDIGARH Phone : 2655794 Fax : 2650757
87
THE PUNJAB COOPERATIVE
SOCIETIES ACT, 1961
(AS AMENDED UPTO MARCH, 2004)
AND
THE PUNJAB COOPERATIVE
SOCIETIES RULES, 1963
(AS AMENDED UPTO MARCH, 2004)
88
THE PUNJAB CO-OPERATIVE
SOCIETIES RULES, 1963
(AS AMENDED UPTO MARCH, 1993)
FRAMED UNDER
THE PUNJAB CO-OPERATIVE SOCIETIES ACT, 1961
89