Chapter I PRELIMINARY

In this Act, unless the context otherwise requires— (1) “Agricultural Marketing! Society” means a. society. (9.) the object of Which is the marketing of agricultural produce and the supply of implements and other requisites for agricultural production, and (b) not less than three fourths of the members of which are agriculturists, or societies formed by agriculturists ; (2) “Arbitrator” means a person appointed under this Act to decide disputes referred to him by the Registrar or Registrar’a nominee or Board of Nominees. (3) “Auditor” means a. person appointed by the Registrar or by a. society to audit the accounts of the society, (3)A. “Board” means the Board of Management ofva society. (4) “Bonus” means payment made in cash or kind, out of the profits of a. society to a, member, or to :1. person who is not a member, on the basis of his contribution (including any contribution in the form of labour or service) to the business of the society, and in the case of a farming society, on the basis both of such contribution and also the value or income 01-, as the cn.an may be, the area of the lands of the members brought twrcther for joint cultiVation as may be decided by the society ; (5) “Bye-laws” means bye-luws registered under this Act and for the time being in force, and includes registered amendments of such bye-Iaws ; (6) “Central Bank” means a. Co-operative Bank, the objects of Which include the creation of funds to be loaned to other Societies ; (7) “Committee” means the Committee of management, or other directing body, to which the management of the affairs of a society is entrusted. (8) “Company” means a. company as defined in the Companies Act, 1956, and includes 3. Banking Company and also any Board, corporation or other corporate body, constituted or established by any Central, State or Provincial Act for the purpose of the development of any industry- ; (9) “Consumers’ ‘Society” means a society the object of-which is— (a) the procurement, production or processing, and distribution of goods, to, or the performance of other services for, its members as 33180 other customers, and (b) the distribution among its members and customers, in the proportion prescribed by rules or by the bye-laws of the Society, of the profits accruing from such procurement, pro- duction or processing; and distribution ; (10) “Co-operative Bank” means a. society registered under this Act and doing the business of banking, as defined in clause (b) of sub-section (1') of section ‘5 of the Banking Companies Act, 1949 ; (11) "‘C’o-operative Year” means the year ending on the M day of June or in case of any Society or clase of societies the accounts of which are with the previous sanction of the Registrar, balanced on any other day, the year ending on such day. (12) "Dividend” means the amount paid, out of the profits of a. soeiety, to a. member in proportion to the shares held by him - (l3) “Farming Society” means a society in Which, with the object of increasing agricultural production, employment and income and the better utilisation of resources, lands are brought together and jointly eultivated by .5111 the members, such lands (a) being owned by or leased to the members (or some of them), or (b) coming in possession of the society in any other manner whatsoever; ‘ (14‘) “Federal Society” means a. society— (a) not lesa than five members of Which are themseiyes Societies ; and (b) in Which the voting rights are so regulated that the: mem- bers which are societies have not less than four fifths of the total number of votes in the general meeting of‘ such soeiety ; , (15) “Firm” means a firm registered under the Indian Partnership Act, 1932 ; K ' (16) “General Society” means a society not falling, inlany of the classes of societies defined by the other clauses of this section ; (17) “Housing Society” means a society the object of. whichis providing members with dwelling houses ; (18) “Liquidator” means a personapjpointed‘ as liquidator under this Act ; (19) "goeal Authority” means Municipality, Town Committee or Uram Panehayztt : (20) (a) “Member” means a person joining in an application for the registration of a Oo-operative Society which is subse- quently registered, or a,- person duly admitted to member- ship of a society after registration, and includes a nominal, associate or sympathiser member ; (11) “Associate Member” means a member Who holds jointly a share of a. society with others, but whose name does not stand in the share certificate ; ' (c) “Nominal Member” means a person admitted to member- ship as such after registration in accordance With bye- 1aws ; (d) “SympathiSer Member” means a person who sympathises the aims and objects of the society and who is admitted by the society as such member ; (21) “Officer” means a person elected or appointed by a. society to {my office of such society according to its bye-laws ; and includes a Chairman, Viee-Chairman, President, Vice-President, Managing Director, Manager, Secretary, Treasurer, member ofthe Board and any other ' person elected or appointed under this Act, the» rules and the bye-laws, to give directions in regard to the business of such society. (22) “Prescribed” means prescribed by trules ; (23) “Processing Society” means a society the objects of which is the processing of goods ; (2L) “Producers’ Society” means a society the objects of Which is the production and disposal of goods or the colleetive disposal of the labour of the members thereof ; (25) “Registrar” means a person appointed to be the Registrar of Qo-opemtive Societies under this Act ; ’ ' . _, (26) “Resources Society” means a society, the'object of which. is the obtaining; for its members of credit, goods or services required by them ; (27) “ 11.11108” means rules made under this Act ', (28) “Society” means a‘Co-operetive Society registered, or deemed to be registered, under this Act ; ,__.._-.,.,-- (29) “Society with limited liability” means a society having th liability of its members limited by its bye-laws ; (30) “Society With unlimited liability” means a society the men- bers of which are, in the event of its being wound up, jointly and severally liable for and in respect of its obligations and to contribute to any deficiency in the assets of the society ; (31) “State” means State Govei'hment of Manipur ; . (32) “Tribunal” means the Manipur Co-operative Tribunal cona- tituted under this Act ; . (33) “Working capital” means funds at the disposal of a. society inclusive of paid up share capital, funds, built out of profits, and money raised by borrowing and by deposits.