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Tuesday 11 October 2022

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 contribute annually towards the education fund of the State federal society which may be notified in this behalf by the State Government at such rate as may be prescribed, and different rates may be prescribed for different societies or classes of societies depending on their financial condition.


(2) Every society shall pay its contribution to the said fund, 10[within three months after the close of the co-operative year.] Any officer wilfully failing to comply with the requirement of this section, shall be personally liable for making good the amount to the federal society notified as aforesaid.]


(3) Where any society fails to pay the contribution within the period specified in sub-section (2), the amount of contribution due shall be recoverable as an arrear of land revenue and on the State federal society making a report of such failure to the Registrar, the Registrar shall, after making such inquiry as he deems fit, grant a certificate for recovery of the amount due as an arrear of land revenue.]

(4) With effect from the date of commencement of the Maharashtra Co-operative Societies (Amendment) Act, 2013, the provisions of sub- sections (1) to (3) shall cease to be in force.

(5) Notwithstanding anything contained in sub-section (4), any amount due on the date of commencement of the Maharashtra Co-operative Societies (Amendment) Act, 2013, shall be recoverable as an arrear of land revenue and upon the request of the State federal society, the Registrar shall, after making such inquiry as he deems fit, grant a certificate for recovery of the amount due as an arrear of land revenue.]]