Section 125 in Mizoram Cooperative Societies Act, 2006
125. Offences and punishments and cognizance of offences.
(1)It shall be an offence if the managing committee of the co-operative bank fails to comply with any of the provisions of section 123.(2)Where an offence under this section has been committed by a management committee or any other committee of a co-operative bank, every person woo at the time the offence was committed was a member of such committee shall be deemed to be guilty of the offence and be liable to be proceeded against and punished accordingly.(3)If any such member of a management committee or any other committee of a co-operative bank proves beyond doubt that the offence was committed without his knowledge or that he has exercised all due diligence and care to prevent the commission of such offence. such member may not be held liable for any punishment as provided under this section.(4)Every committee member who is found or deemed to be guilty of any offence under sub-section (1) and (2) shall on conviction be punished as under:if it is an offence for failure to comply with the provisions of sub-section (a) to (f) of Section 123, the member shall be punished with imprisonment or a term which may extend up to one year or with fine which may extend to Rs. one lakh or with both.(5)Whoever after having been convicted of an offence under sub-section (4) for failure to comply with the provisions of sub-section (a)of section 123 is again convicted there under on every such subsequent conviction and be punishable with fine which may extend up to Rs.50,000/-. Whoever after having been convicted of an offence under sub-section (4) for failure to comply with the provisions of sub-section (c) of Section 123 continues to commit such offence shall be punished @ Rupees 1000 for each day during which period the offence was continued.(7)No court inferior to that of metropolitan magistrate or the first class magistrate court shall have the jurisdiction to try an offence under this chapter.(8)Without prejudice to the interest of either of the parties, the metropolitan magistrate or the first class magistrate shall have discretionary power to award sentence of imprisonment or fine on any person in excess of his powers conferred under the code of Criminal Procedure (Section .29). It is, however, not lawful to lodge a complaint under this chapter without the previous sanction of Registrar.
