section 147
Branches, etc., of societies outside Union territory
The Dadra and Nagar Haveli and Daman and Diu Co-Operative Societies Regulation, 2024Corporate2024155 sections12 chapters
Chapter XII INSURED CO-OPERATIVE BANK
Statutory text
- (1) No society shall open a branch or a place of business outside the Union territory, and no co-operative society registered under any law in any other State shall open a branch or a place of business in the Union territory without the permission of the Registrar.
- (2) Every co-operative society registered under any law in any other State, and permitted to open a branch or a place of business in the Union territory under sub-section (1) or which has a branch or a place of business in the Union territory before the commencement of this Regulation, shall, within three months from the date of the opening of such branch or place of business or from the date of the commencement of this Regulation, as the case may be, file with the Registrar a certified copy of the bye-laws and amendments and, if these be not in English a certified translation thereof in English or Hindi and shall submit to the Registrar such returns and information as are submitted by similar societies registered under this Regulation in addition to those which may be submitted to the Registrar of that State where such society is registered.
- (3) The provisions of sub-sections (1) and (2) shall not apply to co-operative societies to which the provisions of the Multi-State Co-operative Societies Act, 2002 applies: Provided that in case of a co-operative society carrying on the business of banking, the guidelines on the subject issued by Reserve Bank from time to time shall be followed.
- (4) Nothing contained in sub-section (1) shall affect a society which has a branch or a place of business outside the Union territory at the commencement of this Regulation.
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