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The act renamed industrial and provident societies as co-operative or community benefit societies. The act effectively implemented the renaming provisions first enacted in the Co-operative and Community Benefit Societies and Credit Unions Act 2010 and coincided with a number of other changes foreshadowed by the 2010 act, such as the application of the Company Directors Disqualification Act ...
Industrial and Provident Societies will be either a Co-operative Society or a Community Benefit Society or a Pre-2010 Act Society. Like companies, organisations registered as societies under the Industrial and Provident Societies Act 1965 will be subject to the Company Directors Disqualification Act 1986. Board or Management Committee members ...
The Authority was established as a body corporate in 2010, pursuant to the provisions of the Sacco Societies Act with the primary purpose of streamlining the regulation of SACCOs and Co-operatives in the country under the supervision of the Commissioner of Co-operative Development, an office under the Ministry of Agriculture, Livestock, Fisheries and Co-operatives.
The memorandum has to contain the name of the society, its objects, and the names, addresses, and occupations of the members of the governing body, by whatever name it may be called, duly signed for consent by all the members forming the society. A copy of the rules and regulations of the society also has to be filed along with the memorandum ...
(i) a company which has no share capital, is limited by guarantee and is a bona fide co-operative society; or (ii) a registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014; and (b) that the articles of association or rules of the body include provisions which secure—
The corporation's articles of incorporation and bylaws as well as occupancy agreement specifies the cooperative's rules. The word cooperative is also used to describe a non-share capital co-op model in which fee-paying members obtain the right to occupy a bedroom and share the communal resources of a house owned by a cooperative organization.
The Co-operative and Community Benefit Societies and Credit Unions Act 2010 contained a provision that would have renamed the act the Co-operative and Community Benefit Societies and Credit Unions Act 1965, but this was repealed on 1 August 2014 before coming into force.
The State Co-Operative Societies (Re-Constitution And Formation) Act, 1954 The Tamil Nadu (Added Territories) Extension of Laws (No.2) Act, 1961 The Tamil Nadu (Added Territories) Extension of Laws Act, 1962