Section 196

No co-operative society shall use its funds in the purchase of a motor vehicle unless-(i) a resolution to this effect has been passed by the Committee of Management of the society and such resolution is in accordance with prior authorization of the General Body, and (ii) Prior permission for such purchase has been obtained from the Registrar: Provided that such permission shall not be necessary in the case of a motor transport co-operative society, where the motor vehicle is required for the purpose of carrying on its normal transport business. Explanation- Motor Vehicle shall mean a Motor Vehicle as defined in the Motor Vehicles Act. 1939 (Act 4 of the 1939).