Section 4(7) in Assam Co-Operative Societies Act, 2007
(7)The existing Cooperative Societies carrying on the business of banking as defined under Section 5 (b) of the Banking Regulation Act, 1949 (Act No. 10 of 1949) on the date of coming into force of this Act, shall amend their Bye-laws indicating that the said societies have been carrying on the business of banking in the State of Assam and shall file a copy of the amended bye-laws before the Registrar for getting the societies registered as a Co- operative Bank and Registrar shall register the said societies accordingly under this Act.Explanation. - For the purposes of this sub-section the term "existing Cooperative Societies" means the Cooperative Societies registered under the Assam Cooperative Societies Act, 1949 (Assam Act No. 1 of 1950), and carrying on the business of banking at the commencement of this Act.
