Delhi Co-operative Societies Act, 2003
No: 3 Dated: Mar, 24 2005
Delhi Co-operative Societies Act, 2003
An Act to consolidate and amend the laws relating to co-operative societies, to facilitate the voluntary formation and democratic functioning of cooperatives as people's institutions based on self help and mutual aid to enable them to promote their economic and social betterment and to provide for better regulation, management, functional autonomy of such societies and for matters connected therewith or incidental thereto in the National Capital Territory of Delhi.
Be it enacted by Legislative Assembly of the National Capital Territory of Delhi in the Fifty-fourth Year of the Republic of India as follows :-
CHAPTER I
Preliminary
1. Short title, extent and commencement - (1) This Act may be called the Delhi Co-operative Societies Act, 2003.
(2) It extends to the whole of the National Capital Territory of Delhi.
(3) It shall come into force on such date as the Government may, by notification in the official Gazette, appoint.
2. Definitions:- In this Act, unless the context otherwise requires, -
(a) Omitted vide Notification No. F.14(31)/LA-2004/16 dated 17/01/2005
(b) "area of operation" means the area of Delhi from which the membership is drawn;
(c) "bye-laws" means the registered bye-laws for the time being in force and includes registered or deemed amendments of such bye-laws;
(d) "Collector" shall have the same meaning as is assigned to it in the General Clauses Act, 1897 (10 of 1897).
(e) "committee" means the governing body of a co-operative society by whatever name called, to which the management of the affairs of the co-operative society is entrusted;
(f) "co-operative bank" means a bank as defined under section 5 as amended by section 56 of the Banking Regulations Act, 1949 ( 10 of 1949);
(g) "co-operative principles" means the co-operative principles specified in the Schedule to this Act;
(h) "co-operative society" means a society registered or deemed to be registered under this Act;
(i) "co-operative year" means the year ending on the 31st day of March;
(j) "Delhi" means the National Capital Territory of Delhi;
(k) "Deposit Insurance Corporation" means the Deposit Insurance and Credit Guarantee Corporation established under section 3 of the Deposit Insurance and Credit Guarantee Corporation Act, 1961 (47 of 1961);
(l) "Divisional Commissioner" means an officer appointed by the Government as such possessing the powers of the Collector and the District Magistrate under the relevant laws for the time being in force.
(m) "federal co-operative society" means a co-operative society whose membership is available only to co-operative societies and in the case of a federal cooperative society formed with the main objective to propagate and promote activities in the field of art, culture, education, information technology, training, industry, etc., shall also include experts in the respective fields in individual capacity not exceeding one-fifths of the total strength of such society or twenty, whichever is less;
(n) "financing bank" means a co-operative bank the objects of which include the creation of funds to be lent to other co-operative societies;
(o) "general body" in relation to a primary co-operative society means all the members of that co-operative society and in relation to a federal co-operative society, means all the delegates of the member co-operative societies and the individual members as per clause (m);
(p) "Government" means the Lieutenant Governor of the National Capital Territory of Delhi appointed by the President under article 239 and designated by such under article 239 AA of the Constitution;
(q) "Lieutenant-Governor" means the Administrator of National Capital Territory of Delhi appointed by the President under article 239 of the Constitution;
(r) "member" means a person joining in the application for the registration of a cooperative society and a person admitted to membership after such registration in accordance with this Act, the rules and the bye-laws, and includes a nominal or associate or joint member and the Government when it subscribes to the share capital of a co-operative society;
(s) "NABARD" means the National Bank of Agriculture and Rural Development constituted under the National Bank for Agriculture and Rural Development Act, 1981 (61 of 1981);
(t) "officer'' means the president, vice-president, chairman, vice-chairman, managing director, secretary, manager, member of committee, treasurer, liquidator, administrator and includes any other person empowered under this Act, the rules or the bye-laws, to give directions in regard to the business of a co-operative society;
(u) "prescribed'' means prescribed by rules made under this Act;
(v) "primary co-operative society" means a co-operative society in which individuals are members;
(w) "Registrar" means a person appointed to perform the functions of the Registrar of co-operative societies under this Act and includes any person appointed to assist the Registrar when exercising all or any of the powers of the Registrar;
(x) "Reserve Bank" means the Reserve Bank of India constituted under sub-section (1) of section 3 of the Reserve Bank of India Act, 1934 (2 of 1934);
(y) "rule" means a rule made under this Act;
(z) "section" means a section of this Act;
(za) "Sub-divisional Magistrate" means an Executive Magistrate appointed under the Code of Criminal Procedure, 1973 (2 of 1974) and posted by the Government to be in-charge of the sub-division;
(zb) "Tribunal" means the Delhi Co-operative Tribunal constituted under section 114.
CHAPTER II
Registration Of Co-Operative Societies
3. Registrar. (1) The Government may, by notification in the Official Gazette, appoint a person to be the Registrar of co-operative societies for Delhi and may appoint other persons to assist him.
(2) The Government may, by general or special order, confer on any person appointed to assist the Registrar all or any of the powers of Registrar under this Act.
(3) Every person appointed to assist the Registrar shall exercise the powers conferred on him under sub-section(2) subject to the general guidance, superintendence and control of the Registrar.
(4) The Government may, by notification in the Official Gazette and subject to such conditions as it may think fit to impose, confer all or any of the powers of the Registrar under this Act on any federal co-operative society, or an officer of such federal co-operative society, and every such federal co-operative society or officer on whom the powers of the Registrar are so conferred shall exercise such powers under the general guidance, superintendence and control of the Registrar.
4. Co-operative societies which may be registered. - (1) Subject to the provisions hereinafter contained, a co-operative society which has its object the promotion of economic, social and cultural interests of its members, in accordance with co-operative principles, or a co-operative society established with the object of facilitating the operations of such a co-operative society, may be registered under this Act with limited liability:
Provided that a co-operative society shall be registered only if it fulfils the viability norms with limited liability as prescribed for a co-operative society or class of co-operative societies to ensure that it is economically sound and its registration may not adversely affect the development of co-operative movement.
(2) The word "limited" or its equivalent in any Indian language shall be the last word in the name of every co-operative society registered under this Act with limited liability.