The Central Registrar of multi state cooperative society in New Delhi - Under the circumstances in order to keep uniformity in the accounting year, Registrar of Cooperative Societies, Delhi, exercising the powers vested in me under Sub-Rule (3) of Rule (2) and Rule 77 of the Delhi Cooperative Societies Rules, 1973 do hereby direct all types of Cooperative societies' registrars in the Union Territory of Delhi under Cooperative societies Act, 1972 and Delhi Cooperative Societies Rules, 1973 that they shall close their annual accounts for the year 1988-89 on 31st March, 1989 instead of 30th June, 1989 for the assessment year 1989-90 and hence forth, the Cooperative year shall ‘end’ on 31st March, instead of 30th June, every year. The cooperative societies are therefore, directed to maintain their accounts accordingly.

(1) Shares held in a cooperative society by any of the authorities referred to in clauses (c) to (g) of sub-section (1) of section 25 shall be redeemable in accordance with the bye-laws of such registrar of cooperative societies in Delhi and in a case where the bye-laws do not contain any provision in this regard, in such manner, as may be agreed upon between the cooperative society and such authority.
(2) The redemption of shares referred (1) shall be on the face value of the shares. The Bill amends the Multi State Cooperative Societies Act, 2002, which regulates multi state cooperative societies i.e. cooperatives which serves the interest of members in more than one state. This includes federal cooperative societies whose membership is available only to a cooperative society or a multi-state cooperative society and 21 national cooperative societies specified. The central government may appoint a Central Registrar of Cooperative Societies. A cooperative society registered under MSCS Act, 2002 may be registered if its main object is to serve the interest of members in multiple states, its bye-laws provide for social and economic betterment of its members in accordance with the cooperative principles. A multi state cooperative society may receive deposits, raise loans and receive grants from external sources to such extent and under such conditions as may be specified in the bye-laws provided that the total amount of deposits and loans received during any financial year shall not exceed ten times of the sum of subscribed share capital and accumulated reserves. Provided further that while calculating the total sum of subscribed share capital and accumulated reserves, the accumulated losses shall be deducted.