Cooperative Society Registration
A co-operative society is a special type of business organisation different from other forms of organsation. The term co-operation is derived from the Latin word co-operari, where the word co means ‘with’ and operari means ‘to work’. Thus, co-operation means working together.
So those who want to work together with some common economic objective can form a society which is termed as “co-operative society”.
For formation of a cooperative society at least 10 persons are required. They must have the common objective to serve each other by forming a society. They have to contribute capital in form of share capital and decide to take up any one or more activities.
They form a managing committee from and among the members who looks after the management of the society and implements the decisions of the members. As our Constitution is wedded to a socialistic pattern of society, it is a part of the Government policy to promote and encourage establishment of cooperative societies.
It is a voluntary association of persons who work together to promote their economic interest. It works on the principle of self-help as well as mutual help. The main objective is to provide support to the members. Nobody joins a cooperative society to earn profit. People come forward as a group, pool their individual resources, utilise them in the best possible manner, and derive some common benefit out of it.
Therefore, cooperative societies enjoy several benefits provided by the Government from time to time . But in order to avail those benefits the society must have to register under the Cooperative Societies Act. The procedure for registration are as follow : Apply for registration of the association as cooperative society in a prescribed proforma available with the Registrar of Cooperative Societies with requisite information like –
For valid constitution of a Trust, the author must indicate with reasonable certainty-
- (1) List of members, their individual addresses,
- (2) Name and objectives of the society for which it has been formed,
- (3) Collection of funds - share capital or loan fund with their utilization process,
- (4) Office bearers as managing committee and their powers,
- (5) Admission and retirement of members, and
- (6) Bye-law of the society.
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MAIN CONDITIONS OF ENROLMENT OF A MEMBER IN A CO-OPERATIVE SOCIETY
A resident of Delhi can become member of the society if he or she fulfils the conditions laid down in registered by laws of different types of societies. The person can become member on an industrial or transport society if he or she is actually engaged in their respective field and he or she should not be member of other society of similar activities. But in case of housing societies, an applicant for membership should not have any flat in their name or in the name of any dependent member of their family and should also be resident of Delhi for minimum period of 3 years on the date of application.
ROLE OF REGISTRAR
From the registration of co-operative societies till the cancellation of its registration, the registrar acts as a friend philosopher and guide to the co-operatives registrar order to ensure that the co-operative societies function in accordance with the provisions of state co-operative act, rules, bye- laws, and govt policies. The main functions of registrar are as under:-
- Registration of co-operative societies.
- Amendments to the bye –laws of co-operative societies.
- Amalgamation, division and re-organisation of co-operative societies.
- Conduction election of managing committee in primary co-operative banks and federal co-operative societies.
- Regulation of investment of funds by co-operative societies as per act $ rules.
- To conduct audit and inspection, handle enquiries and fix surcharge on negligent functionaries of co-operative societies.
- To settle disputes of co-operative societies through the process of arbitration.
- Function as an appellant court.
- Enforcement of orders, awards and decrees of various courts.
- Winding up and cancellation of registration of non functional societies.
- To operate co-operative education fund for training, education and carry out publicity program to strengthen co-operative movement in the N.C.T of Delhi.
- To frame Delhi co-operative societies rules, 1973 from time to time.
- To issue directive for the promotion of business of different categories of co-operatives.
- To verify membership in housing co-operative for allotment of plots.
- To frames, execute and monitor various welfare schemes approved by the central govt including financial assistance to various sectors co-operatives.
