NEW DELHI– Co-operative Societies (Amendment) Bill 2023 has been introduced in the Indian State of Goa giving power to the Registrar of Cooperative Societies [RCS] to disqualify directors involved in irregularities, according to news agencies in India.
According to the news agencies, the Goa Minister of Cooperation, Subhash Shirodkar in the State Legislative Assembly introduced the bill on Monday.
The bill seeks to give the power to RCS to disqualify directors of cooperative societies involved in irregularities, illegalities, or actions detrimental to the interest of the society.
The amendment aims to act as a deterrent to illegal activities by the board of directors and will be considered and passed next week on Tuesday.
According to the bill, the Section 59 was amended in the year 2014 sub-section (11) of section 59 was specially inserted to give powers to the Registrar to take cognizance of discrepancies committed by the board in the working of the societies which are irregular, illegal in nature and detrimental to the interest of the society.
“The bill mentions that whenever such tainted directors are disqualified due to grave irregularities/misappropriation which is detrimental to the interest of the society and have direct impact on the administrative and financial affairs of the society, they don’t deserve to represent the concerned society or any other society,” reports added.
https://thecooperator.news/cooperatives-in-india-to-be-strengthened/
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