The Multi-State Co-operative Societies Act, 2002

(1) This Act may be called the Multi-State Co-operativeSocieties Act, 2002. (2) It extends to the whole of India. (3) It shall come into force on such date1as the Central Government may, by notification in theOfficial Gazette, appoint and different dates may be appointed for different provisions of this Act and anyreference in any such provision to the commencement of this Act shall be construed as a reference to thecoming into force of that provision.

This Act shall apply to-- (a) all co-operative societies, with objects not confined to one State which were incorporatedbefore the commencement of this Act,-- (i) under the Co-operative Societies Act, 1912 (2 of 1912), or (ii) under any other law relating to co-operative societies in force in any State or in pursuanceof the Multi-unit Co-operative Societies Act, 1942 (6 of 1942) or the Multi-State Co-operativeSocieties Act, 1984 (51 of 1984), and the registration of which has not been cancelled before such commencement; and (b) all multi-State co-operative societies.

In this Act, unless the context otherwise requires,-- (a) "area of operation" means the area from which the persons are admitted as members; (b) "board" means the board of directors or the governing body of a multi-State co-operativesociety, by whatever name called, to which the direction and control of the management of the affairsof the society is entrusted; (c) "bye-laws" means the bye-laws for the time being in force which have been duly registered ordeemed to have been registered under this Act and includes amendments thereto which have beenduly registered or deemed to have been registered under this Act; (d) "Central Registrar" means the Central Registrar of Co-operative Societies appointed undersub-section (1) of section 4 and includes any officer empowered to exercise the powers of the CentralRegistrar under sub-section (2) of that section; (e) "Chief Executive" means a Chief Executive of a multi-State co-operative society appointedunder section 51; (f) "co-operative bank" means a multi-State co-operative society which undertakes bankingbusiness; (g) "co-operative principles" means the co-operative principles specified in the First Schedule; (h) "co-operative society" means a society registered or deemed to be registered under any lawrelating to co-operative societies for the time being in force in any State; (i) "co-operative year", in relation to any multi-State co-operative society or class of suchsocieties, means the year ending on the 31st day of March of the year and where the accounts of suchsociety or class of such societies are, with the previous sanction of the Central Registrar, balanced onany other day, the year ending on such day; (j) "Deposit Insurance Corporation" means the Deposit Insurance and Credit GuaranteeCorporation established under section 3 of the Deposit Insurance Corporation Act, 1961 (47 of 1961); (k) "federal co-operative" means a federation of co-operative societies registered under this Actand whose membership is available only to a co-operative society or a multi-State co-operativesociety; (l) "general body", in relation to a multi-State co-operative society, means all the members ofthat society and in relation to a national co-operative society or a federal co-operative means all thedelegates of member co-operative societies or delegates of multistate co-operative societies andincludes a body constituted under the first proviso to sub-section (1) of section 38; (m) "general meeting" means a meeting of the general body of a multistate co-operative societiesand includes special general meeting; (n) "member" means a person joining in the application for the registration of a multi-State cooperativesociety and includes a person admitted to membership after such registration in accordancewith the provisions of this Act, the rules and the byelaws; (o) "member co-operative" means a co-operative society or a multistate co-operative societywhich is member of a federal co-operative ; (p) "multi-State co-operative society" means a society registered or deemed to be registered underthis Act and includes a national co-operative society and a Federal co-operative ; (q) "multi-State co-operative society with limited liability" means a society having the liability ofits members limited by its bye-laws to the amount, if any, unpaid on the shares, respectively, held bythem or to such amount as they may, respectively, thereby undertake to contribute to the assets of thesociety, in the event of its being wound up; (r) "national co-operative society" means a multi-State co-operative society specified in theSecond Schedule; (s) "notification" means a notification published in the Official Gazette; (t) "officer" means a president, vice-president, chairperson, vice-chairperson, managing director,secretary, manager, member of a board, treasurer, liquidator, an administrator appointed under section123 and includes any other person empowered under this Act or the rules or the bye-laws to givedirections in regard to the business of a multi-State co-operative society; (u) "prescribed" means prescribed by rules; (v) "Reserve Bank" means the Reserve Bank of India constituted under the Reserve Bank of IndiaAct, 1934 (2 of 1934); (w) "rules" means the rules made under this Act.

(1) The Central Government may appoint a person to be the Central Registrarof Co-operative Societies and may appoint such other persons as it may think fit to assist the CentralRegistrar. (2) The Central Government may, by notification, direct that any power exercisable by the CentralRegistrar under this Act (other than the power of registration of a multi-State co-operative society) shall,in relation to such society, and such matters as may be specified in the notification, be exercisable also by any other officer of the Central Government or of a State Government as may be authorised by theCentral Government subject to such conditions as may be specified therein: Provided that no officer of a state government shall be empowered to exercise such power in relationto a national co-operative society.

(1) No multi-State co-operativesociety shall be registered under this Act, unless,-- (a) its main objects are to serve the interests of members in more than one state; and (b) its bye-laws provide for social and economic betterment of its members through self-help andmutual aid in accordance with the co-operative principles. (2) The word "limited" or its equivalent in any Indian language shall be suffixed to the name of everymulti-State co-operative society registered under this Act with limited liability.