Definitions

in this Act, unless the context otherwise requires: (1) "Act refers to the Nagaland Co-operative Societies Act, 2017. (2) "Administrator(s)" refers to persons or persons appointed by Registrar by virtue of exercise of power conferred upon him/her and for the purpose. (3) "Affiliated Society" means the particular society which is a member of the affiliated society. (4) "Affiliated Society "means the registered society in which a particular society becomes a member. (5) "Area of Operation" means the area from which the membership is drawn and Includes the territorial limit up to which a co-operative can extend its activities as provided under Bye-Law. (6) "Auditor" means departmental auditors and auditors other than departmental auditor appointed by the Registrar. (7) "Board" or "Managing Committee" means the Government Body of a Co- operative by whatever name be called, to which the direction of the affairs of the Co-operative is entrusted upon by the Bye-Laws of that Co-operative. (8) "Bonus" means payment made in cash or kind out of the profits of a co-operative to a member or to a 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 Co-operative. (9) "Bye-Laws" means Bye-Laws registered under this Act for the time being in force and includes registered amendments of such Bye-Laws and deemed amendment of Bye-Laws. (10) "Charge" means the lawful conferment of preferential right of enjoyment upon an entity over other rival claimants on the same entity. (11) "Co-operative Bank" means a society involved/engage in the business of banking as defined in clause(6)of sub-section(1)of section 5 of the Banking Regulation Act 1949 and includes any society which is functioning or is to function as an Agriculture and Rural Development Bank. (12) "Co-operative Tribunal" means a tribunal constituted under Nagaland Co-operative Societies Act or to be constituted by the Government in consultation with High court under this Act to decide disputes to be referred to under any of the provision of the Act. (13) "Co-operative with limited liability" means a Co-operative having the liability of its members limited to the extent of share capital held or guarantee provided by such member or as provided by its Bye-Laws. (14) "Co-operative with unlimited liability" means a Co-operative, the members of which are, in the event of it 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 Co-operative regardless of the value of share capital held or extent of guarantee provided by concerned member. (15) "Co-operative Year" means the period beginning and ending on such date as may be fixed by the Registrar for the purpose of drawing up the Balance Sheet of registered societies and for all other purpose under this Act. (16) "Court" means the principal Civil Court of original jurisdiction in a district, and includes the high Court and Supreme Court in exercise of its original civil jurisdiction. (9) "Bye-Laws" means Bye-Laws registered under this Act for the time being in force and includes registered amendments of such Bye-Laws and deemed amendment of Bye-Laws. (10) "Charge" means the lawful conferment of preferential right of enjoyment upon an entity over other rival claimants on the same entity. (11) "Co-operative Bank" means a society involved/engage in the business of banking as defined in clause(6)of sub-section(1)of section 5 of the Banking Regulation Act 1949 and includes any society which is functioning or is to function as an Agriculture and Rural Development Bank. (12) "Co-operative Tribunal" means a tribunal constituted under Nagaland Co-operative Societies Act or to be constituted by the Government in consultation with High court under this Act to decide disputes to be referred to under any of the provision of the Act. (13) "Co-operative with limited liability" means a Co-operative having the liability of its members limited to the extent of share capital held or guarantee provided by such member or as provided by its Bye-Laws. (14) "Co-operative with unlimited liability" means a Co-operative, the members of which are, in the event of it 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 Co-operative regardless of the value of share capital held or extent of guarantee provided by concerned member. (15) "Co-operative Year" means the period beginning and ending on such date as may be fixed by the Registrar for the purpose of drawing up the Balance Sheet of registered societies and for all other purpose under this Act. (16) "Court" means the principal Civil Court of original jurisdiction in a district, and includes the high Court and Supreme Court in exercise of its original civil jurisdiction. (17) "Decree" means a decision expressed in a suit conclusively determining the rights of the parties to the dispute with regard to all or any of the matters in controversy and such decision is given formal adjudication. (18) "Deemed" means the intended act, purpose, requirement, need ,gets its legal status on the expiry of time period or stipulation or condition provided for taking such action or decision ,on such act, purpose ,requirement or need, etc. (19) "Deficit" means the excess of expenditure over income arrived at, at the end of a financial year ,after the payment of interests, if any, on share capital. (20) "Delegate" means a member nominated or authorized by a Co-operative to represent its interests at the time of promotion of a Federal or Central or Secondary Co-operative, and/or to take part at meetings of such Federal or Central or Secondary Co-operative to which the Co-operative is affiliated. (21) "Deregistration" means the act of withdrawing or taking away the legal rights Conferred upon a Co-operative for the purpose. (22) "Director" means a member elected, nominated or co-opted in accordance with the Law, Rules and provisions of Bye-Laws to the Board of Management orthe Managing Committee (23) "Dividend" means the amount paid out of the net profits of Co-operative to a member in proportion to the share capital held by him. (24) "Employee" means a person not being an office bearer, employed by the registered Co-operative society on a salary or similar form of remuneration other than advance, patronage, dividend or payment for goods sold to or, through such society. (25) "Expulsion" (of members) means the act of keeping away members by force or authority who are found or to be found dishonest by engaging themselves in doing acts which are detrimental or harmful to the interest of the Co-operative or to its proper working or acts which affect or affected the image/status and good will of Co-operative. (26) "General Body" in relation to Co-operative" means a body consisting of all its members. (27) "General Meeting" or "General Body Meeting" means a meeting of the General Body called and conducted in accordance with the provision of this Act and the Bye-Laws of the Co-operative. (28) "Government" or state Government refers to the Government of Nagaland unless stated otherwise. (29) "Managing Committee or Board of Directors" as the case maybe means the body to which the management of the affairs of a registered society is directly vested. (30) "Member" means a person admitted to membership after registration in accordance with the Bye-Laws and Rules of the Society and includes a promoter. (31) "Office" means an employee of a Co-operative society employed by the Managing Committee of the Society/Board of Directors. (32) "Office Bearer" means a member duly elected by the appropriate body of a registered society according to its Bye-Laws to any office of such society, including the office of the President, Chairman, Vice President, Vice Chairman, Secretary, Managing Director and Treasurer provided that any officer appointed by Government to hold charge of any office of a registered society shall be deemed to be an Office Bearer unless specifically stated to be contrary. (33) "Primary Co-operative" means a Co-operative whose primary members are Primarily individual eligible persons. (34) "Promoter" means any eligible person or registered society signing the application for registration of a society. (35) "Qualified" means possession of requisite qualification and experience as Provided under Law, Rules, Regulations and Bye-Laws of Co-operative. (36) "Registrar" means a person appointed to perform the duties of a Registrar of Cooperative Societies under this Act. (37) "Arbitrator" means a person appointed under the provision of this Act to decide any dispute referred to him. (38) "Chief Executive" means the individual, in paid or honorary capacity, nominated or elected or appointed by the Board from among members, directors or other, in accordance with the Bye-Laws of the society who shall perform such functions and responsibilities and exercise such powers as specified in the Act, Bye-Laws and assigned by the Board. (39) "Representative General Body" in relation to a Co-operative, means all the Member representatives authorized as per Bye-Laws to constitute and discharge Such of the functions of General Body. (40) "Representative General Body Meeting" means a meeting of the representatives, Called and conducted in accordance with the provisions of this Act and bye- Laws of the Co-operative. (41) "Resolution" means a resolution of the General Body at a meeting called for the Purpose which has the approval of more than half of all the members of the Co- Operative with right to vote at the time of the General Meeting, or of at least Two-thirds of members or any other proportion with right of vote at the time of The General Meeting and present in the General Meeting, whichever is specified. (42) "Rules" means Rules made under this Act by the Government. (43) "Schedule" means the schedule" appended to his Act. (44) "Society" in this Act means a registered Co-operative Society. (45) "Supersession" means the Act of removing or unseating or dissolving or replacing the duly and democratically elected management committee from its functions and operations, in the larger interest of members of Co-operative, public or Co-operative movement, for managing the affairs of Co-operative, prejudicial to the interest of members Co-operative or detrimental to the business or general affairs and growth of Co-operative. (46) "Surcharge" means the addition or omission done in the preparation and maintenance of accounts for which credit should have been made and involve amounts in official books of accounts not approved by the auditor which amounts are recoverable from such of the persons including officials and employees of Co-operative Society responsible for spending or incurring such expenditure. (47) "Surplus" means the excess of income over expenditure, arrived at, at the end of the financial year after making or making provision for the payment of interest on share capital, tax, if any and before the payment of surplus refund, and allocation of reserves and other funds. (48) "Working Capital" means fund at the disposal of a Co-operative inclusive of paid-up share capital, funds built out of profits, and money raised by borrowing and by any other source. (49) "Winding up or Dissolution" means the act of enabling or allowing an institution activity, subject or thing coming to an end in normal course or bringing or forcing an end to such an institution activity, subject or thing in larger interest of member, public or Co-operative or Co-operative Movement. (50) Works and Expressions not defined in this Act but defined in the Rules shall bearthe meaning as defined in the Rules.