Bill to keep co-op societies free from outside interference
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Last Updated: Monday, November 30, 2009, 18:57
  
New Delhi: A bill to ensure autonomy of cooperative societies and keep them free from outside interference was introduced in the Lok Sabha on Tuesday.

The Constitution (111th Amendment) Bill 2009, introduced by Agriculture Minister Sharad Pawar, aims at ensuring autonomous and democratic functioning of the cooperatives.

It would also ensure the accountability of the managements to the members and other stakeholders and act as a deterrent for violation of the provisions of the law.

The legislation proposes to provide for incorporation, regulation and winding up of these societies "based on the principles of democratic member-control, member-economic participation and autonomous functioning," its Statement of Objects and Reasons said.

Under the provisions, the maximum number of directors would not exceed 21 and they would have a five-year term from the date of election. There would be reservation of one seat for scheduled castes or scheduled tribes and two for women on the Board.

Among other things, the bill would provide for independent professional audit of the societies and give the right to information to their members.

The state governments would be empowered to obtain periodic reports of their activities and accounts. The bill would also provide for penalties for offences relating to cooperative societies.

PTI


First Published: Monday, November 30, 2009, 18:57


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