Section 2 in The Punjab Co-operative Societies Rules, 1963
2. Definitions.
- In these rules, unless the context otherwise requires.(a)"the Act" means the Punjab Co-operative Societies Act, 1961;(b)"appendix" means an appendix to these rules;(c)"co-operative year" means the year ending with the [-] [ Substituted by Legislative Supplement Part III dated 3.6.1988 for the words '30th day of June'.] or in the case of any co-operative society or class of co- operative societies, the accounts of which are made up to any other date, with the previous sanction of the Registrar, the year ending with such date;(d)"decree" means any order, decision or award referred to in section 63 of the Act;(e)"decree holder" means any person holding a decree as defined in clause (d);(f)"maximum credit limit" means the extent to which a co-operative society may receive deposits and loans from member and non-members;(g)"model bye-laws" means a set of bye-laws approved and proposed by the Registrar for general adoption by a class of co-operative societies;(h)"owned capital" means the total paid-up share capital and reserve fund and other funds created out of profits and undistributed profits minus accumulated losses;(i)"paid-up share capital" means such portion of the subscribed share capital as is actually paid up;(j)"recovery officer" means a person subordinate to the Registrar who is empowered to exercise in a district, the powers of the Registrar under section 63 of the Act;(k)"relative" includes any one related to the person concerned his wife, his son/daughter or his son's wife or daughter's husband through a common ancestor, not more remote than a grandfather, or any one married to a person so related;(l)"reserve fund" means a fund to which at least one-tenth of the net profits of a co-operative society in any year shall be carried as required by section 41 of the Act;(m)"sale officer" means an officer empowered by the Registrar by general or special order, to attach and sell the property of defaulters or to execute any decree by attachment and sale or property;(n)"section" means a section of the Act;(o)"share capital" means the subscribed share capital;(p)"working capital" means the total of owned capital plus the borrowed capital;(q)words and expression defined in the Act and used in the rules shall have the meanings, respectively, assigned to them in the Act.Chapter - IIRegistration of Co-operative Societies and their Bye-lawsApplication For Registration
