The Union Cabinet has given its approval for moving official amendments to the Multi-State Co-operative Societies (Amendment) Bill, 2010 pending in the Lok Sabha.
The objective of the official amendments is to ensure that the provisions of the Bill are in conformity with the provisions of the Constitution (Ninety-Seventh Amendment) Act, 2011. The Official Amendments also proposes to have provision for revival of sick societies. It is proposed that if the Central Registrar at any time, is of the opinion that a multi- State co-operative society has become sick, then it may, by order, declare such society as sick co-operative society. The Central Government or any person authorized by it shall prepare a scheme for rehabilitation and reconstruction of such sick society and the society shall place it before the General Body for approval. It is also proposed that where a scheme for rehabilitation and the reconstruction of a multi-State co-operative society has been prepared, the Central Government may, on the recommendation of General Body, reorganize the board of such persons having experience in the field of co-operative, management finance, accountancy and any other area relating to such societies as may be recommended by general body.
Background
Indian Parliament
The Multi-State Cooperative Societies (Amendment) Bill, 2010 was introduced in Lok Sabha on 15 November, 2010. The objective of the Bill is to further amend the provisions of the Multi-State Cooperative Societies Act, 2002 to keep the legislation in tune with the changing economic policies and to facilitate the multi-state co-operative societies to take advantage of the new and emerging opportunities. These amendments are intended to enhance the public faith in the cooperatives and to ensure better accountability of the management towards its members and law of the land. The Bill was referred to the Committee on Agriculture for examination and Report. The Chairman, Committee on Agriculture presented the 41st report on the Multi-State Co-operative Societies (Amendment) Bill, 2010 to the Lok Sabha on 20.12.2012.
The Department of Agriculture and Cooperation has accepted the recommendation of the Committee and has accordingly, proposed to move the official amendments to the Multi-State Cooperative Societies (Amendment) Bill, 2010.
