The Delhi Co-operative Societies Act, 1972

(1) This Act may be called the Delhi Co-operativeSocieties Act, 1972. (2) It extends to the whole of the Union territory of Delhi. (3) It shall come into force on such date1as the Lieutenant-Governor may, by notification in the DelhiGazette, appoint.

In this Act, unless the context otherwise requires, (a) "bye-laws" means the registered bye-laws for the time being in force, and includes registeredamendments of such bye-laws; (b) "committee" means the governing body of a co-operative society, by whatever name called, towhich the management of the affairs of the society is entrusted; (c) "co-operative bank" shall have the same meaning as is assigned to it in the Deposit InsuranceCorporation Act, 1961 (47 of 1961); (d) "co-operative society" means a society registered or deemed to be registered under this Act; (e) "co-operative society with limited liability" means a co-operative society the liability ofwhose members is limited by its bye-laws to the amount, if any, unpaid on the shares individuallyheld by them or to such amount as they may individually undertake to contribute to the assets of thesociety, in the event of its being wound up; (f) "co-operative society with unlimited liability" means a co-operative society the liability ofwhose members is unlimited for the purpose of contributing jointly and severally to any deficiency inthe assets of the society in the event of its being wound up; (g) "Deposit Insurance Corporation" means the Deposit Insurance Corporation established undersection 3 of the Deposit Insurance Corporation Act, 1961 (47 of 1961); (h) "federal society" means a society (a) not less than five members of which are themselves societies; and (b) in which the voting rights are so regulated that the members which are societies have notless than four-fifth of the total number of votes in the general meeting of such society; (i) "financing bank" means a co-operative society, the objects of which include the creation offunds to be lent to other co-operative societies; (j) "Lieutenant-Governor" means the administrator of the Union territory of Delhi appointed bythe President under article 239 of the Constitution; (k) "member" means a person joining in the application for the registration of a co-operativesociety and a person admitted to membership after such registration in accordance with this Act, therules and the bye-laws, and includes a nominal and an associate member and the Central Governmentwhen it subscribes to the share capital of a society; (l) "officer" means the president, vice-president, chairman, vice-chairman, managing director,secretary, manager, member of committee, treasurer, liquidator, administrator and includes any otherperson empowered under the rules or the bye-laws to give directions in regard to the business of aco-operative society; (m) "prescribed" means prescribed by rules; (n) "Registrar" means a person appointed to perform the functions of the Registrar ofCo-operative Societies under this Act, and includes any person appointed to assist the Registrar whenexercising all or any of the powers of the Registrar; (o) "Reserve Bank" means the Reserve Bank of India constituted under the Reserve Bank of IndiaAct, 1934 (2 of 1934); (p) "rules" means the rules made under this Act; (q) "Tribunal" means the Delhi Co-operative Tribunal constituted under section 78.

(1) The Lieutenant-Governor may appoint a person to be the Registrar ofCo-operative Societies for the Union territory of Delhi and may appoint other persons to assist him. (2) The Lieutenant-Governor may, by general or special order, confer on any person appointed toassist the Registrar all or any of the powers of the Registrar under this Act. (3) Every person appointed to assist the Registrar shall exercise the powers conferred on him undersub-section (2) subject to the general guidance, superintendence and control of the Registrar. (4) The Lieutenant-Governor may, by notification in the Delhi Gazette and subject to such conditionsas he may think fit to impose, confer all or any of the powers of the Registrar under this Act on anyfederal society, or an officer of such federal society; and every such federal society or officer on whomthe powers of the Registrar are so conferred shall exercise such powers under the general guidance,superintendence and control of the Registrar.

(1) Subject to the provisions hereinafter contained, a societywhich has as its object the promotion of the economic interests of its members in accordance withco-operative principles, or a society established with the object of facilitating the operations of such asociety, may be registered under this Act with or without limited liability: Provided that no society shall be registered if it is likely to be economically unsound or theregistration of which may have an adverse effect on development of co-operative movement: Provided further that, unless the Lieutenant-Governor by general or special order otherwise directs,the liability of the society of which a member is a co-operative society shall be limited. (2) The word "limited" or its equivalent in any Indian language shall be the last word in the name ofevery society registered under this Act with limited liability.

No society other than a federal society shall be registered underthis Act unless it consists of at least ten persons (each of such persons being a member of differentfamily), who are qualified to be members under this Act and who reside in the area of operation of thesociety. Explanation.--For the purposes of this section the expression "member of a family" means wife,husband, father, mother, grand-father, grand-mother, step-father, step-mother, son, unmarried daughter,unmarried step-daughter, step-son, grand-son, unmarried grand-daughter, unmarried sister, unmarriedhalf-sister, brother, half-brother and wife of brother or half-brother.