Co-Operative Societies’ Act.

A bill to amend the Co-operative Societies Act, 1912, has just been published in the United Provinces Gazette: The object of this Bill is to provide a more efficient machinery than is at present given by the Co-operative Societies’ Act, 1912, for the realization of contributions found by a liquidator to be payable by the members of a Co-operative Society when the registration of the society has been cancelled. Under the provisions of the Act such contributions can only be collected through the medium of a civil court, the procedure of which is relatively cumbrous and dilatory and also to some extent susceptible of evasion on the part of the contributories.

Source :https://www.thehindu.com/todays-paper/tp-opinion/co-operative-societies-act/article25106921.ece

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