Section 2 in Mizoram Cooperative Societies Act, 2006
2. Definitions.
- In this Act, unless the context otherwise requires -(1)"Act" (the. this) means the Mizoram Co-operative Societies Act, 2006.(2)"Administrator(s)" means a person(s) appointed by Registrar by virtue of exercise of power conferred upon him and for the purpose specified under section 64(1) of the Act.(3)"Affiliated Society" means a particular Society which is a member of the affiliating society.(4)"Affiliating Society" means the registered society in which a particular society becomes a member.(5)"Arbitrator" means a person appointed by Registrar by virtue of power conferred upon him under the Act to settle disputes referred to him, in accordance with the provisions of Jaw.(6)"Arbitration" means the method or process by which the disputes referred therein arc finally decided or settled.(7)"Area of application" means the area from which the membership is drawn and includes the territorial limit up to which co-operative can extend its activities as provided under bye-law.(8)"Board" (or "Board of Directors/Managing committee") means the governing body of a by whatever name called to which the direction of the affairs of the co-operative is entrusted under the bye-laws of that in addition to the powers and functions assigned to it under section 54 of this Act.(9)"Bonus" means payment made in cash or kind out of the profits of a co-operative to a member, or to a person who is not a member, on the basis of his contribution (including any contribution in the form of labour or service) to the business of the co-operative but does not include any sum paid or payable as bonus to any employee of the co-operative under the Payment of Bonus Act, 1965.(10)"Bye-laws" means by-laws registered under this Act for the time being in force and includes registered amendments of such bye-laws and deemed amendment of bye-laws.(11)"Charge" means the lawful conferment of preferential right of enjoyment upon an entity over other rival claimants on the same entity.(12)"Chief Executive" means an individual, in paid or honorary capacity, nominated or elected or appointed through selection by the board of a co-operative in accordance with the bye-laws of that co-operative, who is the appropriate person to sue be sued on behalf of the co-operative and has such responsibilities and powers as are specified in the bye-laws and assigned by the board of management committee, in addition to performance of such other functions specified under section 61.(13)"Company" means a company as defined under the Companies Act, 1956 and includes a banking company and also any board, corporation 01 other corporate body, constituted or established by any Central or State Act for the purpose of the development of any industry;(14)"Co-operative" means a self-reliant, self-help, mutual-aid, autonomous, voluntary, democratic, business enterprise registered or deemed to have be registered under this Act, which is jointly owned, managed and controlled by its members, who may be individuals or co-operatives, for the purpose of fulfilling or meeting their economic and social betterment, through the financially gainful provision of core services which fulfill the common need felt by all members.(15)"Co-operative bank" means a society which is doing the business of banking as defined in clause (6) of sub-section (1) of section 5 of the Banking Regulation Act, 1949 and includes any society which is functioning or is to function as an Agriculture and Rural Development Bank.(16)"Cooperative Demand Certificate" means a recovery certificate issued by the Registrar or authorised persons.(17)"Co-operative principles" or "principles of co-operation" means the principles specified under section 6 of this Act meant for strict observance by co-operatives(18)"Co-operative tribunal" means a tribunal to be constituted by government in consultation with High court under this Act to decide disputes to be referred to it under any of the provisions of the Act.(19)" Co-operative with limited liability" means a co-operative having the liability of its members limited by its by-laws;(20)"co-operative with unlimited liability" means a co-operative, the members of which are, in the event of its being wound up, jointly and severally) able for and in respect of its obligations and to contribute to any deficiency in the assets of the co-operative;(21)"Court" means the principal Civil Court of original jurisdiction in a district, and includes the High Court and Supreme Court in exercise of its original civil jurisdiction;(22)"Credit equalization fund" means a fund created and maintained by each co-operative bank in accordance with and for the purpose specified under section 124 of Chapter XIV of this Act.(23)"Decree" means a decision expressed in a suit conclusively determining the rights of the parties to the dispute with regard to all or any of the matters in controversy and such decision is given formal expression as adjudication.(24)"Deemed" means the intended act, purpose, requirement, need gets its legal status on the expiry of time period provided for taking such action or decision, on such act purpose requirement or need, etc.(25)"Deficit" means the excess of expenditure over income, arrived at, at the end of a financial year, after the payment of interest, if any, on share capital.(26)"Delegate" means a member nominated or authorized by a to represent its interests at the time of promotion of a federal or central secondary co-operative and/or to take part at meetings of such federal or central or secondary co-operative to which the co-operative is affiliated;(27)"Deregistration" means the act of withdrawing or taking back the legal right conferred upon a co-operative for the purposes specified under section I5.(28)"Director" means a member elected in accordance with the bye-laws to the board of the committee of management.(29)"District Cooperative Officer" means Deputy Registrar of Cooperative Societies.(30)"Dividend" means the amount paid, out of the profits of co-operative to a member in proportion to the share capital held by him.(31)"Employee" means a person not being an Office Bearer employed by the registered cooperative society on a salary or similar form of remuneration other than advance patronage dividend or payment for goods sold to or through such society.(32)"Expulsion" (of members) means the act of driving out members by force or authority who are found to be dishonest by engaging themselves in doing acts which are detrimental and harmful to the interest of the co-operative or to its proper working.(33)"Federal co-operative (or central or secondary co-operative)" means a co-operative formed by not less than ten members which themselves are co-operative for the object and purpose specified under chapter III of this Act.(34)"General Body" in relation to a co-operative, means a body consisting of all its members.(35)"General Meeting" or "General Body Meeting" called and conducted in accordance with the provisions of this Act and bye-laws of the co-operative;(36)"Government" or state government means the Government of Mizoram(37)"Liquidator" means a person appointed by the Registrar under section III of this Act for the object and purpose specified under Chapter XII of this Act.(38)"Managing Committee" or "Board of Directors" as the case may be means the body to which the management of the affairs of a registered society is directly vested.(39)(a)"Member" means a person who is in need of and is able to use the core services of a co-operative and who is joining in an application for registration or admitted and continues as a member of the co-operative after registration in accordance with the provisions of this Act, bye-laws of that co-operative, and includes a "member- co-operative"; nominal, associate or sympathizer member.(b)"Active Member" means the member who takes active part in the management and business affairs of the co-operative.(c)"Associate Member" means a member who holds jointly a share of a co-operative with others, but whose name does not stand first in the Share Certificate;(d)"In-active Member" means a member who simply holds shares of the co-operative, but does not take pal1 in the business affairs and management of co-operative.(e)"Member-Co-operative" means a primary or secondary co-operative, which is in need of and is able to use the core services of a secondary co-operative, and which is admitted as a member of that secondary co-operative, in accordance with the provisions of this Act and the bye-laws of that secondary co-operative:(f)"Nominal Member" means a person admitted to membership as such after registration in accordance with the by-laws;(g)"Prospective Member" means a person who needs the core services being offered by a co-operative, may be accessing them, and is eligible to be a member of that co-operative, but is not yet admitted as its member:(h)"Sympathizer Member" means a person who sympathies with the aims and objects of the co-operative and who is admitted by the co-operative as such member.(40)"Office Bearer" means a person elected or appointed by a co-operative to any office of such co-operative according to its by-laws; and includes a chairman, vice-chairman, president, vice-president, managing director, manager, secretary, treasurer, member of the committee, and any other person elected or appointed under this Act the rules or the by-laws, to give directions in regard to the business of such co-operative.(41)"Person" means any individual or institution or any or government undertaking or central or state government competent to contract;(42)"President" or "Chairman" means an elected director who is further elected by the board of management committee to preside over its meetings and the meetings of the general body, and to perform such other functions and have such other powers and responsibilities as are specified in the bye-laws and assigned by the board of management committee.(43)"Primary Co-operative" means a co-operative whose members are primarily individual natural persons.(44)"Promoter" means any eligible person or registered society signing the application for registration of a society.(45)"Qualified Auditor" means Department Auditor a pointed by the Registrar.(46)"Registrar" means an individual appointed in accordance with the requirements provided under this Act, and includes any individual or officers subordinated to Registrar such as additional Registrar, Joint Registrar, Deputy Registrar, Assistant Registrar entrusted with the performance of functions and discharge of duties and responsibilities of the Registrar under this Act;(47)"Representative General Body" in relation to a means all the representatives authorized to constitute and discharge such of the functions of general body.(48)"Representative General Body Meeting" means a meeting of the representatives, called and conducted in accordance with the provisions of his Act and bye-laws of the co-operative;(49)"Resolution" means a resolution of the general body at a meeting which has the approval of more than half of all the members of the co-operative with right of vote at the time of the general meeting, or of at least two- thirds of members or any other proportion with right of vote at the time of the general meeting and present in the general meeting, whichever is specified.(50)"Rules" means rules made under this Act by the government.(51)"Signature" includes a thumb impression of an illiterate person.(52)"Supersession" means the act of removing or unseating or dissolving the duly and democratically elected management committee from its operation in the larger interest of members of co-operative, public or co-operative movement, for managing the affairs of co-operative prejudicial to the interest of members or detrimental to the offairs and growth of co- operative.(53)"Surcharge" means the action or omission done in the preparation and maintenance of accounts for which credit should have been made and involve mounts in official books of accounts not approved by the auditor which amounts are recoverable from such of the persons including officials and employees of co-operative responsible for spending or incurring such expenditure.(54)"Surplus" means the excess of income over expenditure, arrived at, at the end of the financial year, after the payment of interest on share capital tax if any and before the payment of surplus refund and allocation of reserves and other funds;(55)"Working Capital" means funds at the disposal of a co-operative inclusive of paid-up share capital funds built out of profits and money raised by borrowing and by any other source.(56)"Winding Up (or dissolution)" means the act of enabling or allowing an activity, subject or thing coming to an end in normal course or bringing or forcing an end to such activity, subject or thing in larger interest of member, public or co-operative or co-operative movement.(57)Words and expressions not defined in this Act but defined in the Rules shall bear the meaning as defined in the Rules.
