Amending Act 13 of 2004

It is considered necessary to amend the Karnataka Co-operative Societies Act, 1959 to provide for.- (i) conversion of a Co-operative under Karnataka Souharda Sahakari Act, 1997 into a Co-operative Society. (ii) voting rights to the Co-operative Societies after 12 months of their admission as in the case of individuals. (iii) prior sanction of RBI in respect of a Co-operative Bank under section 26A and 26B. (iv) the Registrar to conduct the general meeting in case of failure to the Committee to hold Annual general body meeting. (v) the election shall be held within a three months from the date of registration of a Co-operative Society or Societies formed after amalgamation or reorganization or division and that an administrator be appointed for the said period of three months. (vi) vesting of powers under section 30, 31, 59 and 64 with the Registrar. (vii) appeal provision against the orders of Registrar under sec 12, 17 and 31. (viii) vesting of compounding of offences relating to audit with the Director of Co-operative Audit. Some consequential amendments are also made in view of judgement passed by the Hon'ble High Court in W.A.No: 1899-1912/2001 and W.P.No. 21461/1999. Hence the Bill [ L.A. BILL No. 1 OF 2004 ] (Entry 32 of List II of the Seventh Schedule to the Constitution of India)