Section 80 of MCS ACT 1960 : Registrar’s power to seize records,etc
80.Registrar’s power to seize records,etc (1) Where the Registrar is satisfied that the books and records of a society are likely to be sup...
Friday 14 October 2022
Section 79AA of MCS ACT 1960 : Registrar’s powers to give directions to frame regulations
79AA.Registrar’s powers to give directions to frame regulations (1) If the Registrar or an officer not below the rank of District Deputy Re...
Section 79A of MCS ACT 1960 : Government’s powers to give directions in the public interest, etc
79A.Government’s powers to give directions in the public interest, etc (1) If the State Government, on receipt of a report from the Registr...
Section 79 of MCS ACT 1960 : Society’s obligation to file returns and statements and Registrar’s power to enforce performance of such obligations
79.Society’s obligation to file returns and statements and Registrar’s power to enforce performance of such obligations (1) The Registrar m...
Section 78A of MCS ACT 1960 : Power of supersession of committee or removal of member thereof
78A.Power of supersession of committee or removal of member thereof (1) If in the opinion of the Registrar, the committee or any member of ...
Section 78 of MCS ACT 1960 : Power of suspension of committee
78.Power of suspension of committee (1) If, in the opinion of the Registrar, the committee makes a persistent default in performance of its...
Section 77A of MCS ACT 1960 : Appointment of member of committee, new committee or authorised officers, where there is failure to elect member, to constitute committee or where committee does not enter upon office, etc
77A.Appointment of member of committee, new committee or authorised officers, where there is failure to elect member, to constitute committe...
Section 77 of MCS ACT 1960 : Acts of societies, etc.,not to be invalidated by certain defects
77.Acts of societies, etc.,not to be invalidated by certain defects (1) No act of a society or a committee or any officer, done in good fai...
Section 76 of MCS ACT 1960 : Special General Body Meeting
76.Special General Body Meeting (1) A special general body meeting may be called at any time by the Chairman or by a majority of the commit...
Section 75 of MCS ACT 1960 : Annual General Body Meeting
75.Annual General Body Meeting (1) Every society shall, within a period of 3[four months after the close of the financial year, get its boo...
Section 74 of MCS ACT 1960 : Qualification and appointment of Manager, Secretary and other officers of societies and of Chief Executive Officer and financial Officer for certain societies
74.Qualification and appointment of Manager, Secretary and other officers of societies and of Chief Executive Officer and financial Officer ...
Section 73I of MCS ACT 1960 : Responsibility of committee or the Administrators or authorized officer to intimate and assist to arrange for election, before expiry of term
73I.Responsibility of committee or the Administrators or authorized officer to intimate and assist to arrange for election, before expiry of...
Section 73F of MCS ACT 1960 : Election to more than one seat on the committee of society
73F.Election to more than one seat on the committee of society If a person is elected to more than one seat on the committee then, unless wi...
Section 73D of MCS ACT 1960 : Society’s nominee on other society not eligible to be designated officer, except in a federal society
73D. Society’s nominee on other society not eligible to be designated officer, except in a federal society No member of a society who is nom...
Section 73CC of MCS ACT 1960 : Power of State Government to postpone election
73CC.Power of State Government to postpone election Where due to scarcity, drought, flood, fire or any other natural calamity or 3[rainy sea...
Section 73CB of MCS ACT 1960 : State Co-operative Election Authority
73CB.State Co-operative Election Authority (1) The superintendence, direction and control of the preparation of the electoral rolls for, an...
Section 73-CA of MCS ACT 1960 : Disqualification of committee and its members
73-CA.Disqualification of committee and its members (A-1) In the case of a society, which gives loans to members for purchasing machinery, i...
Section 73C of MCS ACT 1960 : Reservation for women
73C.Reservation for women (1) Notwithstanding anything contained in this Act, or in the rules made thereunder, or in the by-laws of any soc...
Section 73B of MCS ACT 1960 : Reservation of certain seats on committees of societies and election thereto
73-B.Reservation of certain seats on committees of societies and election thereto (1) Notwithstanding anything contained in this Act or in ...
Section 73AAA of MCS ACT 1960 : Constitution of committee
73AAA.Constitution of committee (1) The Committee shall consist of such number of members as may be provided in the by-laws : Provided that...
Section 73A of MCS ACT 1960 : Disqualification for being designated Officer simultaneously of certain categories of societies
73A. Disqualification for being designated Officer simultaneously of certain categories of societies (1) In this section and in sections ...
Section 73-ID of MCS ACT 1960 : Motion of no confidence against officers of societies
73-ID. Motion of no confidence against officers of societies (1) An officer who holds office by virtue of his election to that office shall...
Section 73 of MCS ACT 1960 : Committee, its powers and functions
73.Committee, its powers and functions (1) The management of every society shall vest in a committee, constituted in accordance with this A...
Section 72A of MCS ACT 1960 : Freedom of affiliation or disaffiliation with a federal structure of choice
72A.Freedom of affiliation or disaffiliation with a federal structure of choice Notwithstanding anything contained in this Act or any other ...
Section 72 of MCS ACT 1960 : Final authority of society
72. Final authority of society Subject to the provisions in this Act and the rules, the final authority of every society shall vest in the g...
Tuesday 11 October 2022
Section 71A of MCS ACT 1960 : Funds not to be utilized for certain proceedings filed or taken by or against officers in personal capacities
71A.Funds not to be utilized for certain proceedings filed or taken by or against officers in personal capacities (1) No expenditure from th...
Section 71 of MCS ACT 1960 : Employees’ Provident Fund
71.Employees’ Provident Fund (1) Any society may establish for its employees a provident fund, into which shall be paid the contributions m...
Section 70 of MCS ACT 1960 : Investment of funds
70.Investment of funds A society shall invest or deposit its funds in one or more of the following :— (a) in a District Central Co-operativ...
Section 69B of MCS ACT 1960 : Constitution of District Level and State Level Committees
69B.Constitution of District Level and State Level Committees The State Government shall constitute District Level Committees and the State ...
Section 69 of MCS ACT 1960 : Contribution to public purposes
69. Contribution to public purposes After providing for the reserve fund as provided in section 66, and for the 3[funds towards co-operati...
Section 68 of MCS ACT 1960 : Contribution to education fund of the State federal society
68.Contribution to education fund of the State federal society (1) Every society not being co-operative credit structure entity shall contr...
Section 67 of MCS ACT 1960 : Restrictions on dividend
67.Restrictions on dividend No society shall pay dividend to its members at a rate exceeding per cent. except with the prior sanction of the...
Section 66 of MCS ACT 1960 : Reserve Fund
66.Reserve Fund (1) Every society which does, or can, derive a profit from its transactions, shall maintain a reserve fund. (2) Every societ...
Section 65 of MCS ACT 1960 : Ascertainment and appropriation of profits
65.Ascertainment and appropriation of profits (1)A society shall construct its relevant annual financial statements and arrive at its conse...
Section 64 of MCS ACT 1960 : Funds not to be divided
64.Funds not to be divided No part of the funds, other than 2[the dividend equalisation or bonus equalisation funds as may be prescribed or...
Friday 7 October 2022
Section 63 of MCS ACT 1960 : Provisions of this Chapter to override other laws
63.Provisions of this Chapter to override other laws The provisions of sections 51 to 61 (both inclusive) in this Chapter shall have effect...
Section 62 of MCS ACT 1960 : Other forms of State aid to societies
62.Other forms of State aid to societies Notwithstanding anything contained in any law for the time being in force, but subject to such cond...
Section 61 of MCS ACT 1960 : Agreement by State Government and Apex societies
61.Agreement by State Government and Apex societies Subject to the foregoing provisions of this Chapter— (a) the State Government ma...
Section 60 of MCS ACT 1960 : Principal or Subsidiary State Partnership Fund not to form part of assets
60.Principal or Subsidiary State Partnership Fund not to form part of assets Any amount to the credit of a Principal State Partnership Fund ...
Section 59 of MCS ACT 1960 : Disposal of Principal or Subsidiary State Partnership Fund on winding up of Apex or Central society
59.Disposal of Principal or Subsidiary State Partnership Fund on winding up of Apex or Central society (1) If an Apex society which has est...
Section 58 of MCS ACT 1960 : Disposal of share capital and dividend, etc.
58.Disposal of share capital and dividend, etc. (1) All moneys received by an Apex society in respect of shares of other societies purchase...
Section 57 of MCS ACT 1960 : Indemnity of Apex and Central societies.
57.Indemnity of Apex and Central societies (1) If a society in which shares are purchased from the Principal State Partnership Fund is woun...
Section 56 of MCS ACT 1960 : Restriction on amount of dividend
56.Restriction on amount of dividend An Apex society which has purchased shares in other societies from the moneys in the Principal State P...
Section 55 of MCS ACT 1960 : Liability to be limited in respect of certain shares
55.Liability to be limited in respect of certain shares Where any shares are purchased in a society by— (a)the State Government ; or (b)...
Section 54 of MCS ACT 1960 : Approval of State Government for purchase of shares
54.Approval of State Government for purchase of shares Shares shall not be purchased in a society from the moneys in the Principal State P...
Section 53 of MCS ACT 1960 : Subsidiary State Partnership Fund.
53. Subsidiary State Partnership Fund. (1) A Central society which is provided with moneys by an Apex society from the Principal State Part...
Section 52 of MCS ACT 1960 : Principal State Partnership Fund
52. Principal State Partnership Fund (1) An Apex society which is provided with moneys as aforesaid shall, with such moneys, establish a Fu...
Section 51 of MCS ACT 1960 : Indirect partnership of State Government in societies
51.Indirect partnership of State Government in societies The State Government may, under appropriation made by law, provide moneys to a so...
Section 50 of MCS ACT 1960 : Direct partnership of State Government in societies
50.Direct partnership of State Government in societies The State Government may subscribe directly to the share capital of a society with ...
