Notwithstanding anything contained in any law for the time being a disqualification for a member of a board may execute an emend in favor of that society providing that his employer disbursing large or voyages shall be competent to deduct every month from the wages payable to him, such amount as may be specified in pay the amount so deducted to the society in satisfaction debt or other demand the member owes to the society.

A multi state cooperative society may invest or deposit its funds (a) In a cooperative bank, state cooperative bank, cooperative land development bank or central cooperative bank or (b) in any of the securities specified in the Indian Trusts Act, 1882 (c) in the shares or securities of any other multi state society or any cooperative society(c) in the shares, securities or assets of a subsidiary institution or any other institution; or (d) with any other bank; or (f) in s

No multi state cooperative society shall make a contribution, either money or in kind whether directly or indirectly, to an institution which an object of furtherance of the interest of a political party. Objective of is to avoid political interference in the work and management of a multi state cooperative society. This section Assets and liabilities or division of multi state cooperative societies.

(1) If the Central Registrar, after audit has been conducted und special audit has been conducted under inquiry of multi state cooperative society by Central Registrar has been held under or an inspection has been under is of opinion that the society ought to be wound may after giving the society a reasonable opportunity of making representations by order, direct it to be wound up.

The person authorized by him under multi state cooperative societies Act, 2002 is corresponding to 1981. There are following changes: (1) There is a change in sequence of clauses of sub-section (1) in the 2002 Act, instead of arbitration" and " arbitrator" have been mentioned.

The net profits of a multi state cooperative societies referred in respect of a society earning profits shall be calculated by deducting from the gross profit for the year, all interest accrued and accruing in relation to amounts which are overdue, establishment charges, interest payable on loans and deposits, audit fees, working expenses including repairs, rent, taxes and depreciation, bonus payable to employees under the law relating to payment of bonus f

The cooperative movement involves autonomous association of persons united voluntarily to meet their common economic, social and cultural needs through a jointly owned and democratically controlled enterprise. cooperative society, as business enterprises, is different from other firms, in view of the fact that their ownership and control are directly vested in the hands of the members. The cooperative structure is designed on the principles of mutual help, democratic decision making and open membership.

Power of central government to make rules in multi state society:-(1)The central government may, by notification in the official Gazette, make rules for carrying into effect the provisions of this Act.

Transitional provision relating to certain multi state cooperative society (1) Where in respect of any cooperative society specified in the fifteenth Schedule to the Punjab Reorganization Act, 1966, which under the provisions of Sub section (1) of Section 5-A would become a multi state society, the Board of Directors adopts, by a majority of not less than three fourths of the directors, any scheme for the reconstitution, reorganization or dissolution of the society, including proposals regarding(a) the formation of new co-operative societies and

Cooperative society registration

The multi state cooperative society registration in which this Act applies registered before commencement of Act(l) A cooperative society to this Act applies which has been registered in any under the law relating to cooperative society in force in that shall be deemed in any other to which its objects extend to be duly registered in that other under the law there in force relating to m