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Friday, 21 October 2022

Section 144-3A of MCS ACT 1960 : Definitions

144-3A : Definitions

In this Chapter, unless the context otherwise requires,–

(a)“non-agricultural co-operative credit society” means a society, the primary object of which is to provide credit to its members and accept deposits from members and includes,—

     (i)an urban credit co-operative society ;

     (ii)a rural non-agricultural credit co-operative society ;

     (iii)a salary earners’ credit co-operative society ; and

     (iv)any other society or class of societies, which the State Government may, by general or special order published in the Official Gazette, from time to time, specify in this behalf ;

(b)“the Maharashtra State Non-agricultural Co-operative Credit Societies Regulatory Board” or “the Regulatory Board” means the Board constituted under section 144-13A ;

(c)“Stabilization and Liquidity Support Fund” means the Stabilization and Liquidity Support Fund created under section 144-25A