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[Cites 0, Cited by 0] [Section 33] [Entire Act]

State of Tamilnadu - Subsection

Section 33(8) in The Tamil Nadu Co-Operative Societies Act, 1983

(8)Where the Government or a financing bank have or has taken shares in, or given financial or other assistance to, a registered society, the Government or the financing bank, as the case may be, notwithstanding anything contained in sub-section (1) or sub-section (2) nominate to the board of such registered society not more than two [functional directors] [Substituted for 'Members' by Tamil Nadu Act No. 4 of 2013, dated 23.2.2013, w.e.f. 31.1.2013.] if such registered society is an apex society, and one [functional director] [Substituted for 'Member' by Tamil Nadu Act No. 4 of 2013, dated 23.2.2013, w.e.f. 31.1.2013.] in other cases, and where the Government or a financing bank nominate under this sub-section, then, notwithstanding any thing contained in subsection (3), the number of [functional directors] [Substituted for 'Members' by Tamil Nadu Act No. 4 of 2013, dated 23.2.2013, w.e.f. 31.1.2013.] of the board shall stand increased by such number as is nominated under this sub-section. The Government or the financing bank may, at any lime, withdraw any person or persons so nominated and fill up the vacancy or vacancies by fresh nomination:Provided that where both the Government and a financing bank have taken shares or given financial or other assistance, the Government shall determine whether the Government or the financing bank or both may make the nominations:Provided further that the nominee of the Government to a board of a registered society under this sub-section shall be a Government servant:[***] [Third proviso omitted by Tamil Nadu Act No. 4 of 2013, dated 23.2.2013, w.e.f. 31.1.2013.]