Keyword(s):
By-Laws, Financing Bank, Nominal or Associate Member, Registered Society,
Society, Society with Limited Liability, Supervising Union
An Act to amend and consolidate tlhe law relating to, and
to maha better provision for the organisation of, co-op-
erative societies in the 3[State ok’ Tamil Nadu].
WHEREASit is expzdi~il:?:::.tte:. to facilitate the formation
and working of co-operative cietles for the promotion of
thrift, self-help and mutual a”Pd among persons with com-
lnon ecoitomic needs so as to bring aboat improvement
ia agi~lrure and industry, better mzthods of production,
bctter busii~essand better living atrd fcr that purpose to
a mend ar.d consolidate the law rclating to co-operative
societieh in the 3[State of Tamil Nadu] ;
BEit euacted in the Twelftl~,Year of the Republic of Jlldla
as follows :–
Short title. 1. (1 ) This Act may be cia 1 led the I[ Tamil Nadu] Co-ope-
cxtentacd rativt. Societies Act, 1961.
— –
Commence-
men[,
These words were substituted for the word “Madras” by the
1amil Nadu Adaptation of Laws Order, 1969, as amended by the
Tamil Nadu Adaptation of Laws (Second Amendment) Older,
1969.
” For statement of Objects and Reasons, see Fort St. George Gazette
Extraordinary, dated the 28th March 1961, Part IV-Section L,
Page 157.
The PI-ovisionsofthe Tamil Nadu Co-operative Land Mortgage
Banks Act, 1934 (Tamil Nadu Act X of 1934) as amended by the
lanil Nadu Co-operative Land Mortgage Banks (~mendme~lt)
Act, 1969 (Tamil N.-du Act 14 of 1969) shall override the provisions
can-ained itl this A#. Please see mion 384cf Tamil Nadu Act X
a-f 934.
-by-aeTarmaL.~dmrwMmt) ader, 1969, !&.akEs- ,q-;ijs .342&% ,A ~ bop.13YdsFw%4# ‘7%+21l)r& F”J?JJ~~~ :\: G7w&~(2) It extends to the whole of the ‘[Stzte of Tamil
Nadu].
(3) It sha 11 wmeinto force onsuchdateas th: Govern-
ment, may, by notification, appoint.
- In this Act, ~iillessthe context othertviso re.9~1ires- Dsfinitiont,
(I) 6’by-laws” means the regislered by-law.; for the
time being ill force and includes i) registered 2 ntend~neniof
the by-la ws ;
(2) 6ccommittec”nleans the govemiagbody of a regis-
tered society to whom the management of its affairs is
entrusted ;
(3) 6cco-operativeyear” means rhe periodcoamenci~gon
the first day of July of any year and ending with the 30th
day of June of the succeeding y~aror, in the case of any
registeredsocietyor classof registered societies,theaccounts
of which are made up to any other date with the previous
sanction of the Registrar ,the year ending with such date;
(4) 4inancing bank” means a registeredsocietywhich
has as its principal object the lending of money to other
registered societies ;
(5) ‘4Government “means the State Government ;
(6) “member” means a person joining in the appli-
cationfor the registrationof a societyand a pel son ~dmit-
ted to membership after registration in accordance with
Ihis Act, the nhes and the by-laws and includes a nomina1
and anassociate member ;
(7) ccnorninal or associate member” means a member
who possesses only such privileges and rights of a member
and who is subject only to such liabilities of a member,
as may be specified in the by-laws ;
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