The Tripura Co-operative Societies Act 1974

Corporate1974218 sections

This law regulates the formation, registration, governance, financial management, audit, and dissolution of various co-operative societies operating within the state of Tripura. It applies to diverse co-operatives—including credit, agricultural, industrial, consumer, and housing societies—as well as their members, management committees, and administrative officers. By empowering the Registrar of Co-operative Societies and establishing specialized institutions like the Tripura Co-operative Tribunal and land development banks, the Act safeguards member rights, ensures financial accountability, and provides structured dispute resolution. Ultimately, it seeks to strengthen the rural economy, facilitate institutional credit, and promote collective economic welfare across Tripura.

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1. Short title, extent and commencement
2. Definitions
3. Registrar
4. Societies which may be registered
5. Registration with limited or unlimited liability
6. Conditions of registration
7. Power to exempt societies from conditions as to registration
8. Application for registration
9. Section 9
10. Evidence of registration
10A. Section 10A
11. Power of Registrar to decide certain questions.
12. Classification of Societies
13. Amendment of by-laws of society
14. Power to direct amendment of by-laws
15. Change of name
16. Change of Liability
17. Amalgamation transfer, division or conversion of societies.
18. Power to direct amalgation, division and reorganization in public interest, etc.
19. Reconstruction of societies
20. Partnerahip of societies.
20A. Section 20A
21. Voting rights of members
21A. Section 21A
22. Persons who may become member
23. Open membership.
24. Nominal and sympathizer member
25. Cessation of membership
26. No rights of membership to be exercised till due payments are made
27. Voting powers of members
28. Restrictions on holding of shares
29. Restrictions on transfer or charge on share or interest
30. Transfer of interest on death of member
31. Share or interest not liable to attachment
32. Rights of members to see books etc.
33. Liability of past member and estate of deceased member
34. Insolvency of members
35. Expulsion of members
36. Dis-qualification for membership
37. Liability of members
38. Societies to be bodies corporate
39. Address of Societies
40. Register of Members
41. Copy of Act etc. to be open to inspection
42. Admissibility of copy of entry as evidence
43. Exemption from compulsory registration of instruments relating to shares and debentures of society.
44. Power to exempt from taxation
45. Restrictions on borrowings
46. Regulation of loan making policy
47. Restirctions on other transctions with non-members
47A. N/A
48. Charge and set of in respect of share or interest of member
49. Prior claim of society
50. Charge on immovable property of members borrowing from certain societies.
51. Deduction from salary to meet society’s claim in certain case
52. Partnership of Government in societies
53. Deduction from salary to meet society’s claim in certain case
54. Other forms of Government aid to societies
55. Provisions of this chapter to override other laws
56. Funds not to be divided among members
57. Appropriation of profits
58. Reserve Fund
59. Restrictions on dividend
60. Contribution to educational fund of the federal society notified by the Government
61. Contribution to public purpose
62. Investment of funds
63. Employees’ provident fund
64. Final authority of society
65. Committee its powers and functions
66. Disqualification for membership of committees
66A. Disqualification for membership of committees (for cooperative credit structure society)
67. Term to office of the members of the committee
68. Restrictions on holding office simultaneously in a member of institutions
69. Appointment of Manager, Secretary and other Officers
70. Power to depute Government Servent in the service of a society
71. Annual general meeting
72. Offences
80. Rectification of defects in accounts.
82. Inspection of books of indebted society
83. Cost of inquiry and inspection
84. Recovery of costs
85. Registrar to bring defects disclosed in inquiry or inspection to the notice of society
86. Inspection of societies by Registrar at his own motion
87. Inspection of indebted society by the financing bank.
88. Power of Registrar to asses damages against delinquent promoters etc.
89. Power to enforce attendance etc.
90. Recongnition of financing bank or federal societies to supervise the working of societies
91. Suspension of paid officer of servent of a society
92. Dispute
93. Power of financing bank to proceed against members of society for recovery of moneys due to it form such society
94. Limitation
95. Settlement of disputes
96. Procedure for settlement of disputes and power of Registrar his nominee or board of nominees
97. Attachment before award and interlocutory orders
98. Award of the Registrar
99. Bar of jurisdiction of court
100. Appeal to Tribunal
101. Money how recovered
102. Private transfer of property made after issue of certificate void against society
103. Transfer property which cannot be sold
104. Recovery of crop loan
105. Winding up
106. Appointment of liquidator
107. Appeal against order of winding up
108. Power and duties of Liquidator
109. Effect of order of winding up
110. Bar of suit in winding up and dissolution matters
111. Audit of Liquidator’s accounts
112. Termination of Liquidation proceedings
113. Disposal of surplus assets
114. Insured Co-operative Banks
115. Application of Chapter to Cooperative Land Development Bank
116. Co-operative land development bank
117. Trustee
118. Issue of debentures
119. Guarantee by Government
120. Vesting of property in trustee and debenture holders charge on assets
121. Powers of Co-operative Land Development Bank to advance loans and to hold lands
122. Mode of dealing with applications for loans
123. Registration of Mortgage or lease in favour of land development bank
124. Mortgages not to be questioned on insolvency of mortgagors
125. Right of Co-operative land development bank to pay prior debts of mortgagor
126. Mortgages executed by managers of joint Hindu families
127. Section 8 of Act 32 of 1956 to apply to mortgages to co-operative land development bank
128. Restriction on lease
129. Power of Co-operative Land Development Bank where mortgaged property is destroyed or security be comes insufficient
130. Right of Co-operative Land Development Bank to buy mortgaged property
131. Recovery of loans by Co-operative Land Development Bank
132. Power of distrain
133. Sale of mortgaged property
134. Confirmation of sale
135. Disposal of sale proceeds
136. Certificate of purchaser, delivery of property and title of purchaser
137. Recovery of loans on certificate by Registrar
138. Mode of recovery by
139. Officers of Banks not to bid at sales
140. Provision for guarantee funds to meet certain cases
141. Registrar’s power to permit any Coop. relative bank of function as a Cooperative Land Development Bank Ltd.
142. Service of notice
143. Prohibition of use of the word “Co-operative”
144. Offences
145. Punishments for offences under section 144.
146. Punishments for offences not otherwise provided for
147. Cognizance of offences
148. Tripura Co-operative Tribunal
149. Review of orders of Tribunal
150. Tribunal to have power of civil court
151. Appeals
152. Extension of period of limitation by appellate authority in certain cases
153. Power of Government and Registrar to call for proceedings of subordinate officers and to pass orders thereon.
154. Recovery of sums due to Government
155. Registrar’s powers to recover certain sums by attachment and sale of property.
156. Power to exempt societies from provisions of the Act.
157. Delegation of powers of Registrar to federal societies.
158. Branches etc. of societies outside the State of Tripura.
159. Competency of a member to transfer land or interest thereon to society
160. Registrar’s powers to enforce obligation
161. Registrar and other officers to be public servants.
162. Indemnity for acts done in good faith.
163. Bar of jurisdiction courts.
164. Notice necessary in suits.
165. Power to make rules
166. Repeal, saving and construction
167. Companies Act not to apply
71(3). Committee's report
71(3)(b). Section 71(3)(b)
71(3)(c). Section 71(3)(c)
71(4). Section 71(4)
71(5). Section 71(5)
72(1). Special general meeting
72(2). Section 72(2)
72(3). Section 72(3)
72(4). Section 72(4)
72(5). Section 72(5)
73(1). Acts of societies etc. not to be invalidated by certain defects
73(2). Section 73(2)
73(3). Section 73(3)
74(1). Power of Removal of committee or member thereof
74(2). Section 74(2)
74(3). Section 74(3)
74(4). Section 74(4)
74(5). Section 74(5)
74(6). Section 74(6)
74(7). Section 74(7)
74(8). Section 74(8)
75(1). Registrar’s power to enforce performance of obligations
75(2). Section 75(2)
75(3). Section 75(3)
75A(1). Registrar's power regarding Reserve Bank
75A(2). Section 75A(2)
75A(3). Section 75A(3)
75A(4). Section 75A(4)
76(1). Registrar’s power to seize records etc.
76(2). Section 76(2)
77(1). Securing possession of records etc.
77(2). Section 77(2)
77(3). Section 77(3)
78(1). Power to appoint Government nominee
78(2). Section 78(2)
78(3). Section 78(3)
79(1)(i). Audit
79(1)(ii). Section 79(1)(ii)
79(1)(iii). Section 79(1)(iii)
79(1)(iv). Section 79(1)(iv)
79(2). Section 79(2)
79(3). Section 79(3)
79(4). Section 79(4)
79(5). Section 79(5)
79(6). Section 79(6)
79(7). Section 79(7)
79(8). Section 79(8)
79(9). Section 79(9)
81(1). Inquiry by Registrar
81(2). Section 81(2)
81(3). Section 81(3)
81(3)(b). Inquiry
81(4). Inquiry
81(5). Inquiry

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