Chhattisgarh Co-operative Societies (Amendment) Act, 2016 (Chhattisgarh Act No. 34 of 2016)

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1. (I) This Act may be called the Chhattisgarh Co-operative Societies Short title, extent (Amendment) Act, 2016. and commencement. (2) It extends to the whole State of Chhattisgarh . (3) It shall come into force from the date of its publication in the Official Gazette.

2. In Section 2 of the Chhattisgarh Co-operative Societies Act, 1960 (No . 17 of 1961) Amendment of Section 2. (hereinafter referred to as the Principal Act), after clause Uj), the following shall be added ; namely:- "(kk) "National Bank" means the National Bank for Agriculture and Rural Development established under Section 3 of the National Bank for Agriculture and Rural Development Act, 1981 (61 of 1981 )."

3. After sub-section (3) of Section 48 of the Principal Act, the following sha ll be Amendment of inserted, namely:- Section 48. "(3-A) ln the event of society failing to elect requisite number of members of Board, the elected member shall co-opt the requisite number of members from the members of such society, which is eligib le for such representation : Provided that no co-option shall be made in a meeting of the society unless there is a quorum : Provided further that such board meeting shall be presided over by the returning officer."

4. In sub-section (3) of Section 48-B of the Principa l Act,- Amendment of Section 48-8. (i) for the punctuation ful l stop"." the punctuation":" shall be substituted; and (ii) below l.ub-section (3 ), the fo llowing shall be added, namely:- " Provided that the one seat in each category from amongst the groups reserved for the members belonging to the Scheduled Castes, Scheduled Tribes, Other Backward Classes and Unreserved, shall be reaerv d for women " Scanned by CamScanner ::::::::======================lJ==.+,~R~~I~ ~. ~ 14 ~ 2016 '\m~ndmenl of 5 <;ection SJ-8. After sub-sect ron (1) f s . . added . name y . - · 0 ' ection 53-8 of the Principal Act. the following shall be 1 "(4Xi) Ifin. th e op,·n1un · of the Registrar · . officer of the co-operat1ve . any salaried society willful ly and persistenlly violates the provisions of this Act or Rules made thereunder, bye-laws of the society or any order passed by him or has by fraudulent act caused financial loss to the society,- (a) then he may, without prejudice to any other action that may be taken against such officer, call upon the society to take action against such officer: and (b) whereupon the society shall, after affording reasonable opportunity of being heard to such officer, pass such order with in such period as may be specified by the Registrar. (ii) In the case of failure of the society to take action under clause (i) of sub-section (4), the Registrar may, after affording reasonable opportunity of being heard to such officer, impose such major penalty on such officer as he may deem tit. Explanation.- ·'major penalty" may be the order of demotion from the present post held, compu lsory retirement or termination from the service. (iii) Any salaried officer puni shed or removed under clause (i) or (ii) of sub-section (4) shal I be deemed to have been punished under the relevant provisions of the service rules of the concerned society; and in case of his compulsory retirement or termination from the services, such officer shall not be eligible to hold any office of any co-operative society : Provided that the powers conferred on the Registrar under sub-section (4) of this Section shall not be delegated to any officer below the rank of Joint Registrar: Provided further that the vacancy arising out of the removal of such salaried officer under this sub-section shall be filled immediately by the Appointing Authority or the Registrar, as the case may be." Insertion of ne\\ 6. After Section 53-8 of the Principal Act, the following sha ll be inserted, namely:- Seclioo 53-C. "53-C. Remove! of the officer of the Co-operotive Bank in Certain Circumstances.- (i) On the recommendation of the Reserve Bank or the National Bank, any member of the Board or Chief Executive Officer of any Co-operative Bank, who do not fulfill the criteria stipu lated by the Reserve Bank shall be removed by the Registrar or Appoi nting Authority, as the case may be. (ii) Where in the op inion of the Reserve Bank, the functioning of the Chief Execut ive Officer of any Co-operative Bank is such that it is not desirable in the interest of the Bank to continue; it may require the Registrar to remove the Chief Executive Officer. and the Registrar ~hall proceed forthwith to remove such Chief Executive Officers after giving a reasonable opportun ity of being heard . Scanned by CamScanner 898 (5) (iii) lfbany p~rson who, has been co-opt<.:d as a member of the Board under su -section (9) of Section 48 · h · · h . . . , in t c opinion of the Reserve Bank is not avmg requ1s1te knowledge or exrcrience then on advice of the Reserve Bank or the National ~ank, shall be removed from the office a lier giving a reasonable opportunity of being heard." 7. In sub-section (3) of Section 54 of the Principal Act,- Amendment of Section 54 . (i) for the punctuation full stop".", the punctuation":" shall be substituted; and (ii) below sub-section (3), the following shall be added, namely :- (a) The eligibility criteria to hold the office ofChiefExecutive Officer of any Co-operative Bank shall be as such as may be prescribed by the Reserve Bank in this regard. (b) If the concerning Co-operative Bank fails to appoint Chief Executive Officer under the eligibility criteria within a specified period, in such a condition the registrar may appoint such eligible officer of the Bank."

8. Section 57-B shall be omitted. Omission of Section 57-B.

9. In Section 58 of the Principal Act,- A mendment of Section 58. (i) in sub-section (4 ),- (a) for the punctuation fu ll stop ".'' the punctuation":" shall be substituted; and (b) after the third proviso, the fo llowing shall be added, namely:- "Provided also that in case of Co-operative Bank, if the Reserve Bank so requires; the Registrar shall cause to conduct special audit of the financial accounts of the Co-operative Bank and furnish the report of such audit in such manner and within such time as may be prescribed by the Reserve Bank." (ii) after sub-section (7), the fo llowing sha ll be added, namely:- "(8) In case of primary agricultural credit co-operative society, such prudential norms stipulated by the Reserve Bank including nonns for capital to risk weighted assets ratio, shall be prescribed by the Registrar in consultation with National Bank" M.._ak:N'I (3} of ection 58-B of the Principal Act, for the words "State word "Tribunal" hall be sub titut d. ..... Amendment of Scanned by CamScanner