Conversion of Cooperative society into Condominium
By Legal Bureau
(1) Notwithstanding anything contained in the Maharashtra Cooperative Societies Act 1960, registered and functioning under the Cooperative Societies Act, which intends to convert itself into Self Reliant Cooperative Society, may apply for conversion under this Act. Provided that where the Central Government or State Government have given Government aid to a cooperative society intending to convert itself into this Act, return such share capital, loan or make full payment against the guarantee given by Government, and Government shall accept such returned share capital, loan etc.
(2) (a) An application for conversion shall be submitted to the Registrar by hand or by registered post, by the elected board of such cooperative society which intends to convert itself into a Self Reliant Cooperative Society under this Act, on the basis of a resolution passed by a majority of members present at a meeting of the general body/delegate general body of the cooperative society making application under sub-section (1)(hereinafter in this section referred to as such general body/delegate general body) called with at least twenty days notice; provided that such meeting is attended by atleast twenty-five percent of total members or five hundred members, which ever is less.
(b) The person by whom or on whose behalf such application is made shall furnish such information in regard to the cooperative society applying under sub-section (1) or the proposed Self-Reliant Co-operative Society as the Registrar may require.
(3) Every such application shall be accompanied by :-
(a) a true copy of the resolution of such general body/delegate general body expressing commitment to the cooperative identity specified in Schedule A;
(b) evidence to show that the Cooperative Society is not in possession of any Government aid from the central or the State Government.
(c) The original byelaws of the proposed cooperative (two copies) as adopted by such general body/delegate general body;
(d) Certified copy of the resolution of such general body adopting the byelaws;
(e) A true copy of the latest annual report and audited statement of accounts of such cooperative society;
(f) A true copy of the resolution and such general body/delegate general body along with particulars regarding the writing off of accumulated losses, if any from various reserves or by debting to the accounts of members as decided at the meeting of such general body/delegate general body.
(g) A list of members who attended such general body/delegate general body meeting.
(h) Treasury challan in support of payment of registration fee calculated in accordance with the provisions of sub-section (1) of section 18.
(4) The Registrar shall register the Self Reliant Cooperative Society and also take on record its bye-laws and communicate by registered post a certificate of registration and the original byelaws signed and sealed by him, within 30 days from the date of receipt of application for registration, as the case may be, to such person as specified in the application for the purpose subject to the fulfillment of following, namely:-
(a) the application is in conformity with requirements laid down by this Act;
(b) the object of the proposed Self Reliant Cooperative Society is the economic and social betterment of its members through the provisions of core services to fulfill such common needs as specified in the proposed byelaws
(c) the proposed byelaws are –
(i) not inconsistent with the provisions of this Act, or
(ii) not against the aims and objects of the Self Reliant Cooperative Society, or
(iii) in conformity with the cooperative identity specified in Schedule A; and
(d) the registration fee has been paid as specified in section 18.
(5) If the conditions mentioned in sub-sections (3) and (4) are not fulfilled, the Registrar shall communicate by registered post the order of refusal together with the reasons therefore, within 30 days from the date of receipt of application for registration, as the case may be, to the person as specified in the application for the purpose.
Provided that no order of refusal shall be passed without giving an opportunity of being heard to the applicant.
(6) The certificate of registration signed by the Registrar with seal shall be conclusive evidence that the Self Reliant Cooperative Society mentioned therein is a Self Reliant Cooperative Society duly registered under this Act, unless it is proved that the registration of the Self Reliant Cooperative Society has been subsequently cancelled;
(7) Where within 30 days of receipt of the application for registration, as the case may be, an applicant receives neither the certificate of registration nor the orders of refusal, the society shall be deemed to have been registered as a Self Reliant Cooperative Society under this act and the Registrar shall issue Registration Certificate to the Self Reliant Cooperative Society within 10 days thereafter.
(8) Where a Self Reliant Cooperative Society is registered under sub-section (4), it shall send to the registrar of Cooperative Societies a copy of the registration certificate under the Cooperative Societies Act, and the Registrar of Cooperative Societies shall, within thirty days from the receipt of such information, delete the name of such cooperative society from the register of cooperative societies
(9) Where a Self Reliant Cooperative Society is registered under sub-section (4), the assets and liabilities, the rights and obligations, and the members of the Self Reliant Co-operative Society registered under this Act, and all transactions of the applicant cooperative society shall be deemed to have been the transaction of the Self Reliant Cooperative Society registered under this Act.
(10) At the time of conversion if the tenure of the elected board of Directors of Cooperative Society has not expired and is in balance for more than one year the same boards of Directors shall continue to hold office till their tenure even after the conversion of Cooperative Society into Self Reliant Cooperative Society, not withstanding any provisions to the contrary certained in the byelaws.