Prohibition of use of the word “Co-operative”

Prohibition of use of the word “Co-operative”. (1) No person, other than a society registered, or deemed to be registered, under this Act, and a person or his successor in interest of any name or title or under which he traded or carried on business at the date on which this Act comes into force, shall without the sanction of the State Government, function, trade or carry on business under any name or title of which the world “co-operative”, or its equivalent in any Indian Language, forms part.

(2) Every person contravening the provisions of sub-section (1) shall, on conviction, be punished with the fine which may extend to five hundred rupees.

(3) No Primary Agricultural Credit Co-operative Society shall use the word "bank", "banker", "banking" or any other derivative of the word "bank" in its name and the existing society using such name shall be deregistered by the Registrar.