Prohibition of the use of the word 'co-operative' or its equivalent

(1) No person other than a co-operative society shall trade or carry on business under any name or title of which the word 'co-operative' or its equivalent in any Indian language forms part without the sanction of the Government :

Provided that nothing in this sub-section shall apply to the use, by any person or his successor in interest, of any name or title under which he traded or carried on business at the date on which the Co-operative Societies Act, 1912, (2 of 1912) come into operation.

(2) Whoever contravenes the provisions of sub- section (1) shall be punishable with fine which may extend to two hundred rupees and in the case of a continuing offence with further fine of five hundred rupees for each day during which the offence is continued after conviction therefor.