PUNJAB GOVT. GAZ. (EXTRA), SEPTEMBER 17.2014
(BHDR 26, 1936 SAKA)
PART I
147
—
GOVERNMENT OF PUNJAB
pEPARTMENT OF LEGAL AND LEGISLATIVE AFFAIRS, PUNJAB
NOTIFICATION
The 17th September, 2014 No. 26-Leg./2014.-The follo wing Act of the Legislature of t he State of
Punjab received the assent of the G overnor of Punjab on the 26th Day of
August, 2014, is hereby p ublished for general inform ation:-
THE PUNJAB CO-OPERATIVE SOCI
ETIES (AMENDMENT)
ACT, 2014
(Punjab Act No. 25 of 201
4)
AN
ACT
further to amend the Punjab Co-oper ative Societies Act,
1961.
Bk it enacted by th e Legislature of the State of Punjab in t he Sixty-fifth Year of the Republic of India as follows:-
lled the Punjab Co-op erative Societies Sho rt title and
commencement.
1. (1) This A ct may be ca (Amendment) Act, 201
4.
(2) ltshall c ome into force at once.
e Societies Act, 19 61 (hereinafter ref erred Amendment in
section 2 of
Punjab Act 25 of
1961.
2. Inthe Punj ab Co-operativ to as the princip al Act), in sect ion 2,~
1e end, the wor d "and" shall be omitted;
(i) in claus e (k), at tl 1 in clau se (1), at the end, for the words and s ign "this Act ." the
Oy
n shall be sub stituted; and words and
sign nihis A ct; and
the followin g clause shall be added, na mely:-
«"
"5 pabii e
i which the Governmen t
itll
ed by an Act o f the
has perva
sive
(iii) after c lause a), -
ans an organ ization
at
?»
Government:
.
Ce e RAEN Pe
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PUNJAB GOVT. GAZ. (EXTRA), SEPTEMBER 17 2014 1
—3. nth [¢ .
N
section 6 of
"6. No me Punj
mber other than the Government, a Public Sector by hazel Restrictions on Undertaking ora
co-operative society shall
holding of share ! el shares. hold more than such portion of the share capital of a co-operative society, as may be prescribed which in no case shall exceed one-tenth of the share capital:
Provided that in the case of milk producers co-operative society engaged in the marketing of such other perishable commodity, as may be notified by the Government, from tim e
to time, in this behalf (hereinafter referred to as 'society dealing
in notified commodity') registered after th
e commencement
of the Punjab Co-operative Societies (Am
endment) Act, 1978,
no member shall have or claim
any interest in the shares of
such society exceeding one t
housand rupees.".
4. Inthe principal Act, for section 15, the followi ng section shall be Substitut ion of
3
section 13 of substituted, namely:— Punjab Act 25 of «15. No person shall be admitted as member of a co-operative 1961. Persons who society except the following, namely:
may become
members.
(a) an dividua l competent to con tract under section 11 of
the Indian Cont ract Act, 1872 (9 of 1872);
(b) any other co-operative society;
(c) the Gov ernment;
(d) a Publi c Sector Und ertaking; an d
(e) such class or classes o f persons or
persons as may associations of
L
H.P.S. MAHAL,
Government of Punjab, : to
. ip Secretaly and legislative Aff airs.
Department Of Legal Nagar
590/09-2014/Pb. Govt. Press SAS
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