Multi-State Co-operative Societies (Amendment) Rules, 2016

The Central Government in exercise of the powers conferred by section 124 of the Multi State Co-operative Societies Act 2002, makes the Multi-State Co-operative Societies (Amendment) Rules, 2016 in order to amend the Multi State Cooperative Societies Rules, 2002. They shall come into force on the date of their publication in the Official Gazette.

 In the Multi State Co-operative Societies Rules, 2002, in rule 3, in sub-rule (1),

(i) for clause (b), the following clause shall be substituted namely;

    “(b) the list of persons who have contributed to the share capital, together with the amount contributed by each of them and the admission fee paid by them along with their ID-address proofs duly attested by the Chief Promoter ;”;

(ii) after clause (e), the following clauses shall be inserted, namely;

    “(f) primary multi state co-operative societies having objects and functions relating to credit or having multi-purpose objects shall be registered initially with two States or the Union Territories as area of operation ;

     (g) societies having objects and functions relating to credit or having multi-purpose objects shall be required to submit the following documents, namely :- (i) no objection Certificate from the Registrar of Cooperative Societies of the states or the union territories concerned where the proposed area of operation of the society extends; (ii) verification certificate of the background and other credentials of the Chief Promoter and Promoters duly certified by the Registrar of Cooperative Societies of the State where the Registered Office of the Society is proposed to be located;

     (h) societies other than ‘National Cooperative Societies’ as defined in clause(r) of section 3 of the Act shall not be permitted to use the words “National, Indian, Bhartiye, Rashtriye” or equivalent in their names and the name of the society shall not violate the provisions of the “Emblems And Names (Prevention of Improper Use) Act, 1950(12 of 1950).”

(3) In the said rules, in rule 8, after sub-rule (3), the following sub-rule shall be inserted, namely :-

   “(4) A multi State co-operative society, not being a co-operative bank, may open branches or places of business in any place in India with the prior approval of the Central Registrar and the same shall be granted, subject to proper functioning of the society.”.

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