JAMMU AND KASHMIR CO-OPERATIVE SOCIETIES ACT, 1989

The JAMMU AND KASHMIR CO-OPERATIVE SOCIETIES ACT, 1989

Rules Regulations Notifications Orders Circulars Ordinance Statutes

Act ID:	198910
Act Number:	10
Enactment Date:	1989-07-08
Act Year:	1989
Short Title:	The JAMMU AND KASHMIR CO-OPERATIVE SOCIETIES ACT, 1989
Long Title:	An Act to consolidate and amend the law relating to Co-operative Societies in the State, with a view to providing for the orderly development of the co-operative movement in the State in accordance with the directive principles of State policy enunciated in the Constitution of Jammu and Kashmir.
Department:	Cooperatives Department
Enforcement Date:	11-07-1989
Type:	STATE
Location:	Jammu and Kashmir

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Section 1. Short title, extent and commencement.
Section 2. Definitions.
Section 3. The Registrar.
Section 4. Societies which may be registered.
Section 5. Application for registration of Co-operative Societies.
Section 6. Registration.
Section 7. Registration certificate.
Section 8. Registration with limited or unlimited liability.
Section 8A. Conversion
Section 9. Amendment of the bye-laws of Co-operative Society
Section 10. Power to direct amendment of bye-laws.
Section 11. Change of name of Co-operative Society
Section 12. When amendment of bye-laws comes into force.
Section 13. Change of liability.
Section 14. Amalgamation, transfer of assets and liabilities and division of Cooperative Societies.
Section 15. Cancellation of registration certificate of Co-operative Societies in certain cases.
Section 16. Re-organisation of Societies.
Section 17. Persons who may become members.
Section 18. Nominal or associate members.
Section 19. Member not to exercise rights till due payment made.
Section 20. Votes for members.
Section 21. Manner of exercising vote.
Section 22. Restrictions on holding of shares.
Section 23. Restriction on transfer of shares or interest.
Section 24. Transfer of interest on death of member.
Section 25. Liability of a past member and estate of deceased member.
Section 26. Final authority in a Co-operative Society.
Section 27. Annual general meeting.
Section 28. Special general meeting.
Section 29. Election and nomination of members of Committees.
Section 29A. Bar to election, nomination and continuance as member of Committees.
Section 29B. Qualification for membership of the Committees
Section 30. Supersession/removal of Committee.
Section 30A. Transitional provision.
Section 30B. Transitory provision for revival of certain Cooperative Banks.
Section 31. Securing possession of records.
Section 32. Acts of Co-operative Societies not to invalidate by certain defects.
Section 32A. Autonomy in all financial and internal administrative matters.
Section 33. Co-operative Societies to be bodies corporate.
Section 34. First charge of Co-operative Society on certain assets.
Section 35. Declaration for creating charge.
Section 36. Charge and set off in respect of shares or interest of members in the capital or a Co-operative Society.
Section 37. Shares or interest not liable to attachment.
Section 38. Register of members.
Section 39. Proof of entries in Co-operative societys books.
Section 40. Exemption from compulsory registration of instruments.
Section 41. Exemption from certain taxes, fee and duties.
Section 42. Deduction from salary to meet societys claim in certain cases.
Section 43. Direct partnership of Government in Co-operative Societies
Section 44. Indirect partnership of Government in Co-operative Societies.
Section 45. Principal Government Partnership Fund.
Section 46. Subsidiary Government Partnership Fund.
Section 47. Approval of Government of purchase of shares
Section 48. Liability to be limited in respect of certain shares.
Section 49. Restriction on amount of dividend.
Section 50. Indemnity of apex and central societies
Section 51. Disposal of share capital and dividend etc.
Section 52. Disposal of Principal Government Partnership Fund and Subsidiary Government Partnership Fund on winding up of an apex or a central society.
Section 53. Principal Government Partnership Fund and Subsidiary Partnership Fund not to form part of assets.
Section 54. Agreement by Government and apex societies subject to the foregoing provisions of this Chapter.
Section 55. Other forms of Government aid to Co-operative societies.
Section 56. Provisions of this Chapter to over-ride other laws.
Section 57. Fund not to be divided.
Section 58. Procedure for calculation of profits.
Section 59. Disposal of net profits.
Section 60. Investment of funds
Section 61. Restriction on loans.
Section 62. Instructions on borrowings.
Section 63. Restriction on other transactions with non-member.
Section 64. Audit.
Section 65. Communication of defects in audit to Co-operative society
Section 66. Inspection of books of a Co-operative society.
Section 67. Inquiry by Registrar
Section 68. Costs of inquiry.
Section 69. Surcharge.
Section 70. Dispute which may be referred to arbitration.
Section 71. Recovery of money by Financing Bank.
Section 72. Reference of disputes to the authorities or arbitration.
Section 73. Recovery of sums advanced.
Section 73A. Registrar’s obligations.
Section 74. Winding up of Co-operative Societies.
Section 75. Liquidator
Section 76. Powers of liquidator.
Section 77. Cancellation of registration of a Co-operative Society.
Section 78. Definitions.
Section 79. State and other Agriculture and Rural Development Banks.
Section 80. Powers of Agriculture and Rural Development Bank to advance loans and to hold lands.
Section 81. Appointment of Trustee and his powers and functions.
Section 82. Trustee to be a Corporation sole
Section 83. Issue of debentures by the Board.
Section 84. Powers to borrow money by issue of bonds or by way of loan.
Section 85. Charge of debentures holders on certain properties.
Section 86. Guarantee by Government of Principal of, and interest on debentures bonds etc
Section 87. Security for loans
Section 88. Mode of dealing with applications for loans
Section 89. Other Guarantees by the Government.
Section 90. Order granting loan conclusive of certain matters.
Section 91. Priority of mortgage over certain claims.
Section 92. Right of Agriculture and Rural Development Bank or of the State Agriculture and Rural Development Bank to purchase mortgaged property
Section 93. Mortgages executed in favour of Agriculture and Rural Development Bank to stand vested in State Agriculture and Rural Development Bank.
Section 94. Registration of mortgages in favour of Agriculture and Rural Development Bank.
Section 95. Restriction or lease and transfer
Section 96. Recovery of loans by Agriculture and Rural Development Bank.
Section 97. Power of Agriculture and Rural Development Bank to receive money and grant discharges.
Section 98. Right of Agriculture and Rural Development Bank to pay prior debts of Mortgagor.
Section 99. Distraint when to be made.
Section 100. Power of sale when to be exercised.
Section 101. Power of Agriculture and Rural Development Bank where mortgaged property is destroyed or security becomes insufficient.
Section 102. Power of Board or of Trustee to distrain and sell property etc.
Section 103. Title of purchaser not to be questioned on the ground of irregularity etc.
Section 104. Mortgage not to be questioned on insolvency of mortgagor.
Section 105. Appointment of Receiver and his powers.
Section 106. Mortgager’s powers to lease.
Section 107. Registration of documents executed on behalf of an Agriculture and Rural Development Bank or of the State Agriculture and Rural Development Bank.
Section 108. Delegation of certain power by the Board.
Section 109. Sections 102, 103 and 104 of the Transfer of Property Act, 1882 to apply to notice under this Chapter.
Section 110. Power of the Board to make regulations.
Section 111. Mortgage Bank to be Agricultural Class.
Section 112. Over-riding effect.
Section 113. Housing Co-operative Societies.
Section 114. Definition for purposes of this Chapter
Section 115. Issue of debentures.
Section 116. Appointment and powers of trustee.
Section 117. Vesting property in trustee.
Section 118. Guarantee by Government of principal of, and interest on debentures.
Section 119. Guarantee Fund.
Section 120. Rights of debenture holders.
Section 121. Raising of loans from Government and funding agencies at National and International levels.
Section 122. Accepting of deposit.
Section 123. Distraint when to be made.
Section 124. Distraint how to be effected.
Section 125. Sale of property distrained.
Section 126. Power of sale of mortgage and property when and how to be exercised.
Section 127. Application for sale and manner of sale.
Section 128. Application to set aside sale.
Section 129. Disposal of sale proceeds.
Section 130. Grant of certificate to purchaser
Section 131. Delivery of property to purchaser.
Section 132. Appointment and power of receiver.
Section 133. Title of purchaser not impeachable for irregularities.
Section 134. Eviction of defaulter member and tenants etc. and applicability of the Residential and Commercial Tenancy Act, 2012.
Section 135. Appointment of Sale Officers.
Section 136. Mortgages executed in favour of Housing Society to stand vested in Housefed.
Section 137. Requirement when property mortgaged is destroyed or security is rendered insufficient etc.
Section 138. Power of Board and Trustee to direct distraint sale.
Section 139. Mortgage not to be questioned in insolvency of mortgagor.
Section 140. Right of Housing Society to pay prior debts of mortgagor.
Section 141. Power of Housing Society regarding mortgages transferred to Housefed.
Section 142. Mortgages executed by Manager of Joint Hindu Family.
Section 143. Non-applicability of Land Acquisition Act to Lands of Housing Societies
Section 144. Proof of document or entries in documents.
Section 145. Application of this Chapter to loans advance by Housing Society from funds not borrowed from Housefed.
Section 146. Application of provisions of Transfer of Property Act, Samvat 1977 to notices.
Section 147. Officers of Housing Societies and Sale Officers not to bid at sales.
Section 148. Delegation of powers of Board.
Section 149. Board’s power of supervision
Section 150. Regulation under this Chapter.
Section 151. Power to make rules.
Section 152. Enforcement of charges.
Section 153. Execution of orders etc.
Section 154. Attachment of property before award or order.
Section 155. Registrar or person empowered by him to be civil court for certain purposes.
Section 156. Recovery of sum due to Government.
Section 157. Constitution of Co-operative Appellate Tribunal.
Section 158. Constitution of Co-operative Appellate Tribunal.
Section 159. Limitation for appeal.
Section 160. Revision.
Section 161. Review.
Section 162. Interlocutory orders.
Section 163. Offences.
Section 164. Cognizance of offences
Section 165. Address of a Co-operative Society
Section 166. Copy of Act, Rules and Bye-laws to open to inspection.
Section 167. Prohibition against the use of the word “Co-operative”.
Section 168. Notice necessary in suits.
Section 169. Travelling and other allowances etc.
Section 170. Securities etc.
Section 171. Companies Act not to apply.
Section 172. Saving of existing societies.
Section 173. Indemnity.
Section 174. Power of Civil Court
Section 175. Bar of Jurisdiction of Courts.
Section 176. Power to make rules.
Section 177. Repeal and savings.