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Bar News Acts League

The Multi-State Co-operative Housing Societies Act

Act ID: 2002

The Multi-State Co-operative Housing Societies Act

"Provisions under the Multi-State Co-operative Societies Act applicable to housing cooperatives."

Table of Contents

223 Sections

Ch. IP

reliminary

S.1Short title and Commencement S.2Definitions

Ch. IIR

egistrar and Registration

S.3Registrar and other officers and their powers S.4Societies which may be registered S.5Registration with limited or unlimited liability S.6Conditions of registration S.7Power to exempt societies from conditions as to registration S.8Application for registration S.9Registration and provisional registration, certificate of registration S.10Register of societies S.11Power of Registrar to decide certain questions S.12Classification of societies S.13Amendments of bye-laws of societies S.14Power to direct amendment of bye-laws S.15Change of name S.16Change of liability S.17Amalgamation, transfer, division or conversion of societies S.17A[ Power to direct amalgamation and re-organisation of societies in public interest, etc. [Inserted by Gujarat Act 23 of 1982]S.18Cancellation of registration of amalgamated, divided or converted societies S.19Reconstruction of societies S.20Cancellation of registration S.21Partnership of societies

Ch. IIIMe

mbers and Their Rights and Liabilities

S.22Person who may become member S.23Removal from membership in certain circumstances S.24Open membership S.25Nominal, associate and sympathiser member S.26Cessation of membership S.27No rights of membership to be exercised till due payments are made S.28[ Voting powers of members. [Substituted by Gujarat Act No. 23 of 1982]S.28A[ Attendance of meeting by members. [Inserted by Gujarat Act No. 17 of 2013, dated 15.4.2013.]S.28BProvision for co-operative education and training to members S.29Restrictions of holding on shares S.30Restrictions on transfer of share or interest S.31Transfer of interest on death of member S.32Share or interest not liable to attachment S.33Rights of members to see books, etc S.34Liability of person who has ceased to be member S.35Insolvency of members S.36Expulsion of members

Ch. IVIn

corporation, Duties and Privileges of Societies

S.37Societies to be bodies corporate S.38Address of societies S.39Register of members S.40Copy of Act, etc. to be open to inspection S.41Admissibility of copy of entry as evidence S.41A[ Returns, etc. [Inserted by Gujarat Act No. 17 of 2013, dated 15.4.2013.]S.42Exemption from compulsory registration of instrument relating to shares and debentures of society S.43Power to exempt from taxation S.44Restriction on borrowings S.44A[ Power of Committee of co-operative credit structure. [Inserted by Gujarat 1 of 2008, Section 7 (w.e.f. 8.10.2007).]S.45Restrictions on making loans S.46Restrictions on other transactions with non-members S.47Charge and set-off in respect of share or interest of member S.48Prior claim of society S.49Charge on immovable property of members borrowing from certain societies S.50Deduction from salary to meet society's claim in certain cases

Ch. VS

tate Aid to Societies

S.51Direct partnership of State Government in societies S.52Indirect partnership of State Government in societies S.53Principal State Partnership Fund S.54Subsidiary State Partnership Fund S.55Approval of State Government for purchase of shares S.56Liability to be limited in respect of certain shares S.57Restriction on amount of dividend S.58Indemnity of Apex and Central Societies S.59Disposal of share capital and dividend etc S.60Disposal of Principal or Subsidiary State Partnership Fund on Winding up of Apex or Central Society S.61Principal or Subsidiary State Partnership Fund not to form part of assets S.62Agreement by State Government and Apex Societies S.63Other forms of State aid to societies S.64Provision of this Chapter to override other laws

Ch. VIP

roperty and Funds of Societies

S.65Fund not to be divided S.66Appropriation of profits S.67Reserve fund S.67A[ Bad Debt Reserve Fund. [Inserted by Gujarat 1 of 2008, Sec. 10 (w.e.f. 8.10.2007).]S.68[ Restriction on dividend. [Substituted by Gujarat 1 of 2008, Sec. 11 (w.e.f. 8.10.2007).]S.69[ Contribution to education fund of the Gujarat State Co-operative Union. [Substituted by Gujarat 17 of 1994]S.70Contribution to public purpose S.71Investments of funds S.72Employees provident fund

Ch. VIIMa

nagement Of Societies

S.73Final authority of society S.73A[ Freedom for affiliation or disaffiliation with a federal society of choice. [Inserted by Gujarat 1 of 2008, Section 15 (w.e.f. 8.10.2007).]S.74Committee, its powers and functions S.74A[ Disqualification for being designated officer simultaneously of certain specified societies or for being designated officer of the same society for more than six years. [Sections 74-A, 75-B and 74-C were inserted by Gujarat 6 of 1981.]S.74B[ [Deleted by Gujarat Act No. 17 of 2013, dated 15.4.2013.]S.74CProvision for conduct of elections of committees and officers of certain societies and term of office of members of committees S.74D[ [Deleted by Gujarat Act No. 17 of 2013, dated 15.4.2013.]S.75Handing over records and property to new Chairman on election S.75A[ Restriction on rates of sitting fees and travelling and daily allowances of members of Committee. [Inserted by Gujarat 23 of 1982]S.76Appointment of officers and employees and their conditions of service S.76A[ Appointment or removal of Managing Director or Chief Executive Officer to be approved. [Inserted by Gujarat 23 of 1982]S.76B[ Removal of officer. [Inserted by Gujarat Act No. 23 of 1982]S.77Annual general meeting S.78Special general meeting S.79Acts of societies, etc., not to be invalidated by certain defects S.80Power to appoint Government nominee S.80A[ Extension of term of nominated committee or appointment of custodian. [Inserted by Gujarat 23 of 1982]S.81[ Supersession or suspension of Managing Committee. [Substituted by Gujarat Act No. 17 of 2013, dated 15.4.2013.]S.81A[ Supersession of Committee of Primary Agricultural Credit Co-operative Society. [Inserted by Gujarat 1 of 2008, section 22 (w.e.f. 8.10.2007.).]S.82Registrar's power to enforce performance of obligation S.83[ Registrar's power to seize records etc. [Substituted by Gujarat 23 of 1982]

Ch. VIIIA

udit, Inquiry, Inspection and Supervision

S.84[ Audit of Accounts of society. [Substituted by Gujarat Act No. 17 of 2013, dated 15.4.2013.]S.85Rectification of defects in accounts S.86Inquiry by Registrar S.87Inspection of books of indebted society S.88[ Inspection of books by Registrar or financing bank or federal society. [Substituted by Gujarat 23 of 1982]S.89Suspension of officer or servant of society S.90Costs of inquiry and inspection S.91Mode of recovery of sums imposed as penalty or awarded as costs S.92Registrar to bring defects disclosed in inquiry or inspection to notice of society S.93Power of Registrar to assess damages against delinquent, promoters, etc S.94Power to enforce attendance etc S.95Constitution or recognition of federal society to supervise working of societies

Ch. IXP

rocedure for Deciding Disputes

S.96Disputes S.97Limitation S.98Settlement of disputes S.99Procedure for settlement of disputes and power of Registrar, his nominee or board of nominees S.100Attachment before award S.101Decision of `Registrar or his nominee or board of nominees S.102Appeal against decision of Registrar or his nominee or board of nominees S.103Money how recovered S.104Private transfer of property made after issue of certificate void against society S.105Transfer of property, which cannot be sold S.106Recovery of crop loans

Ch. XLiq

uidation

S.107Winding up S.108Appointment of Liquidator S.109Appeal against order of winding up S.110Powers of Liquidator S.111Effect of order of winding up S.112Bar of suit in winding up and dissolution matters S.113Audit of liquidator's accounts S.114Termination of liquidation proceedings S.115Disposal of surplus assets S.115AOrder for winding up, reconstruction, supersession of committee, etc. of insured co-operative bank not to be made without sanction or requisition of Reserve Bank of India S.115BDefinitions S.115CQualifications and disqualifications for being committee member S.115DRight to vote S.115ETerm of office of officers S.115FEnsurance of certain things by committee S.115GUrban Bank Credit Equalization Fund S.115HOffences and their punishment and cognizance S.115IApplication of the provisions of Section 84 to specified bank S.115JChapter to override other provisions of Act S.115KSavings S.115LTransitory provision

Ch. XI

[Land Development Banks] [Substituted for the words 'Land Mortgage Banks' by Gujarat 24 of 1964]

S.116Application of chapter to certain [Land Development Banks] [Substituted for the words 'Land Mortgage Banks' by Gujarat 24 of 1964]S.117Definition S.118Appointment, powers and functions of Trustee S.119Issue of debentures S.120Guarantee by State Government S.121Vesting of property in trustee and debenture holders charge on assets S.122Priority of mortgage S.123Order granting loans conclusive of certain matters S.124Mortgages executed in favour of [Primary Land Development Banks] [These words were substituted for the words 'Primary Land Mortgage Bank' by Gujarat 24 of 1964] to stand vested in [State Land Development Banks] [These words were substituted for the words 'State Land Mortgage Bank' by Gujarat 24 of 1964]S.125Registration of mortgage in favour of [Land Development Banks] [Substituted for the words 'Land Mortgage Bank' by Gujarat 24 of 1964]S.126Mortgages not to be questioned on insolvency of Mortgagors S.127Right of [Land Development Bank] [Substituted for the words 'Land Mortgage Bank' by Gujarat 24 of 1964] to pay prior debts of mortgagor S.128Mortgages executed by manager's of joint Hindu Families S.129Restrictions on lease S.130Section 8 of Act XXXII of 1956 to apply to mortgages to [Land Development Banks] [Substituted for the words 'Land Mortgage Bank' by Gujarat 24 of 1964], subject to certain modifications S.131Power of [Primary Land Development Bank] [These words were substituted for the words 'Primary Land Mortgage Bank' by Gujarat 24 of 1964] to receive money and give discharge S.132Powers of [Land Development Bank] [Substituted for the words 'Land Mortgage Bank' by Gujarat 24 of 1964] where mortgage property is destroyed or security becomes insufficient S.133Power to distrain S.134Sale of mortgaged property S.135Right of mortgage bank to buy mortgaged property S.136Confirmation of sale S.137Disposal of sale proceeds S.138Certificate to purchases, delivery of property and title of purchaser S.139Recovery of loans on certificate by Registrar S.140Collector to make recoveries during certain period S.141Provision or guarantee funds to meet certain losses S.142Agreements executed by members for loans advanced by [Land Development Banks] [Substituted for the words 'Land Mortgage Bank' by Gujarat 24 of 1964] to be conclusive evidence S.143Exemption of officer of [Land Development Bank] [Substituted for the words 'Land Mortgage Bank' by Gujarat 24 of 1964] from personal appearance before registering officers S.143A[ Transfer of rights and liabilities of Government in respect of schemes sanctioned under Bombay XXVIII of 1942. [Inserted by Gujarat 21 of 1969]S.144Service of notice S.145Officers of banks not to bid at sales S.145AApplication S.145BDefinitions S.145CTime when election to be held S.145DConduct of elections S.145ECost of conducting elections S.145FDisqualification for membership S.145IRemoval or reduction of period of disqualification S.145JCorrupt practices S.145KMaintenance of secrecy of voting S.145LOfficers etc. at election not to act for candidates or to influence voting S.145MProhibition of canvassing in or near polling station S.145NPenalty for disorderly conduct in or near polling station S.145OPenalty for misconduct at the polling station S.145PPenalty for illegal hiring or procuring of conveyances at elections S.145QBreaches of a official duty in connection with election S.145RRemoval of a ballot paper from polling station to be offence S.145SOther offence and penalties therefor S.145TApplication of Section 149 to offences under this Chapter subject to certain modifications S.145UDisputes relating to elections to be submitted to the [Tribunal] [Substituted for the words 'State Government' by Gujarat 23 of 1982]S.145VDeposit towards cost for hearing and power to award cost S.145WContents of petitions S.145XRelief that may be claimed by the petitioner S.145YPowers to make rules for purposes of this Chapter S.145ZSpecial provision for election of officers of specified societies

Ch. XIIO

ffences and Penalties

S.146Prohibition of use of the word "Co-operative"S.147Offences S.148Punishments for offences under Section 147 S.149Cognizance of offences

Ch. XIIIA

ppeals, Review and Revision

S.150Gujarat State Co-operative Tribunal S.151Review of orders of Tribunal S.152Tribunal to have power of Civil Court S.153Appeals S.154Extension of period of limitation by appellate authority in certain cases S.155Power of State Government and Registrar to call for proceedings of subordinate officers and to pass orders thereon

Ch. XIVMis

cellaneous

S.156Constitution of State Co-operative Council, its functions etc S.157Recovery of sums due to Government S.158Competency of a member to transfer land or interest therein to society S.159Registrar's powers to recover certain sums by attachment and sale of property S.160[ Registrar's power to give direction. [Substituted by Gujarat 23 of 1982]S.161Power to exempt societies from provisions of Act S.162Delegation of powers of State Government and of Registrar S.163Branches etc. of societies outside the State S.164Registrar and other officers to be public servants S.165Indemnity for acts done in good faith S.166Bar of jurisdiction of Courts S.167Notice necessary in suits S.168Rules S.169Repeal, saving and construction S.170Companies Act not to apply