ACT NO. 2 OF 19121
[1st March, 1912.]
An Act to amend the Law relating to Co-operative Societies.
WHEREAS it is expedient further to facilitate the formation of Co-operative Societies for the promotion of thrift and self-help among agriculturists, artisans and persons of limited means, and for that purpose to amend the law relating to Co-operative Societies; It is hereby enacted as follows:-
PRELIMINARY
1. Short title and extent.
(1) This Act may be called the Co-operative Societies Act, 1912; and
(2) it extends to the whole of India except the territories which, immediately before the 1st November, 1956, were comprised in Part B States.
REGISTRATION
Section 4 Societies which may be registered
Section 5 Restrictions on interest of member of society with limited liability and a share capital
Section 6 Conditions of registration
Section 7 Power of Registrar to decide certain questions
Section 8 Application for registration
Section 10 Evidence of registration
Section 11 Amendment of the by-laws of a registered society
RIGHTS AND LIABILITIES OF MEMBERS
Section 12 Member not to exercise rights till due payment made
Section 14 Restrictions on transfer of share or interest
DUTIES OF REGISTERED SOCIETIES
Section 15 Address of societies
Section16 Copy of Act, rules and by-laws to be open to inspection
PRIVILEGES OF REGISTERED SOCIETIES
Section 18 Societies to be bodies corporate
Section 19 Prior claim of society
Section 20 Charge and set-off in respect of shares or interest of member
Section 21 Shares or interest not liable to attachment
Section 22 Transfer of interest on death of member
Section 23 Liability of past member
Section 24 Liability of the estates of deceased members
Section 25 Register of members
Section 26 Proof of entries in societies books
Section 28 Power to exempt from income-tax, stamp-duty and registration fees
PROPERTY AND FUNDS OF REGISTERED SOCIETIES
Section 29 Restrictions on loans
Section 30 Restrictions on borrowing
Section 31 of Cooperative Societies Act - Restrictions on other transactions with non-members
Section 32 of Cooperative Societies Act - Investment of funds
Section 33 of Cooperative Societies Act - Funds not to be divided by way of profit
Section 34 of Cooperative Societies Act - Contribution to charitable purpose
INSPECTION OF AFFAIRS
Section 35 of Cooperative Societies Act - Inquiry by Registrar
Section 36 of Cooperative Societies Act - Inspection of books of indebted society
Section 37 of Cooperative Societies Act - Costs of inquiry
Section 38 of Cooperative Societies Act - Recovery of costs
DISSOLUTION OF SOCIETY
Section 39 of Cooperative Societies Act - Dissolution
Section 40 of Cooperative Societies Act- Cancellation of registration of society
Section 41 of Cooperative Societies Act - Effect of cancellation of registration
Section 42 of Cooperative Societies Act - Winding-up
RULES
Section 43 of Cooperative Societies Act - Rules
Section 44 of Cooperative Societies Act - Recovery of sums due to Government
MISCELLANEOUS
Section 47 of Cooperative Societies Act - Prohibition of the use of the word co-operative
Section 48 of Cooperative Societies Act - Indian Companies Act, 1882, not to apply
Section 49 of Cooperative Societies Act - Saving of existing societies
Section 50 Rep. by the Second Repealing and Amending Act, 1914 (17 of 1914), s. 3 and the second Schedule