Amendment of section 73

In section 73 of the Principal Act, (i) for sub-section (2), the following shall be substituted, namely, - “The term of office of the elected members of the board and its office bearers shall be five years from the date of election and the term of the office bearers shall be co-terminous with the term of the board. No member shall hold office of the director or governing body beyond three terms consecutively. Provided that if the term of the Board is superseded or dissolved it shall be taken that the Board held its full term. This shall apply to elected Boards only. Provided further that the period of management of the nominated Board, or Administrator or Board of Administrators as the case may be under this Act shall not be counted as a term.” (ii) for sub-section (3), the following shall be substituted, namely,- (3)(1) “The election of a Board of a co-operative society shall be conducted before one month of the expiry of the term of the Board so as to ensure that the newly elected members of the Board assume office immediately on the expiry of the office of members of the outgoing Board”. (2) “The superintendence, direction and control of the preparation of electoral rolls for, and the conduct of, all elections to Cooperative Societies, shall vest to the Registrar of Co-operative Societies. Provided that the procedures and the guidelines for conduct of such elections shall be prescribed by the State Government.