Section 2 in Punjab Self-Supporting Co-operative Societies Act, 2006
2. Definitions.
- In this Act, unless the context otherwise requires,-(a)"Arbitration Council" means an arbitration council referred to in section 57;(b)"Board" means the governing body of a self-supporting co-operative society;(c)"bye-laws" means bye-laws made by a self-supporting co-operative society and registered with the Registrar;(d)"Chief Executive" means an executive head of a self-supporting co-operative society by whatever name called and appointed in accordance with the bye-laws;(e)"co-operative society" means a society registered or deemed to be registered under the Punjab Co-operative Societies Act, 1961 (Punjab Act No. 25 of 1961):(f)"Co-operative Tribunal" means a Tribunal constituted under section 59;(g)"core services" means the central services including value added services provided to the members, through which a self-supporting co-operative society intends to meet the needs common to them for the fulfilment of which, the self-supporting co-operative society has been formed:(h)"Court" means the civil court or criminal court of competent jurisdiction;(i)"deficit" means the net excess of expenditure over income, determined at the end of a financial year;(j)"deficit charge" means the amount collected from or debited to the accounts of members in proportion to the use or non-use of the services of the self-supporting co-operative society in accordance with the bye-laws and resolution of the general body to meet deficit, if any, in whole or in part;(k)"delegate" means a person elected by the members to represent them in the general body of another self-supporting co-operative society in accordance with bye-laws(l)"delegate general body" in relation to a self-supporting co-operative society means all its delegates;(m)"delegate general body meeting" means a meeting of the delegates, conducted in accordance with the provisions of this Act, rules and the bye-laws;(n)"Director" means a member of the Board of Directors;(o)"Education Fund" means a fund established under section 14 of this Act for the purpose of imparting education to the members, officers and officials of a self-supporting co-operative society;(p)"family" includes husband, wife and their dependants;(q)"Federal Self-Supporting Co-operative Society" means a Self-Supporting Co-operative Society constituted by at least five Self-supporting Co-operative Societies and registered as such under this Act;(r)"general body" in relation to a self-supporting co-operative society means all its members;(s)"general meeting" means a meeting of the general body of a self-supporting co-operative society;(T)"Government" means the Government of the State of Punjab in the Department of Co-operation;(u)"Government aid" includes Government share capital, loan, subsidy. guarantee, but does not include assistance provided under any scheme of the State or Central Government, where such assistance is also provided to organizations or institutions other than the self-supporting co-operative societies;(v)"member" means a person, who is admitted as a member of the self-supporting co-operative society in accordance with the provisions of this Act, rules and bye-laws;(w)"officer" means the President, Vice-President, Managing Director, Secretary. Manager. Member of the Board, Treasurer, Liquidator of a self-supporting co-operative society and includes any other person, empowered under the rules or bye-laws to give directions in regard to the business of such society;(x)"office bearer" means any person elected as President, Vice-President or in any such like capacity by the Board, in connection with the affairs of a self-supporting co-operative society in accordance with the bye-laws;(y)"owned fund" means the total paid-up share capital, reserve fund and any other funds created out of the profits and undistributed profits, minus accumulated losses;(z)"prescribed" means prescribed by rules;(za)"Registrar" means a person referred to in sub-section (1) of section 3;(zb)"representative" means a member of the Board nominated by a self-supporting co-operative society to represent its interest in any other organisation or institution of which such society is a member;(zc)"rules" means the rules made under this Act;(zd)"Schedule" means a Schedule appended to this Act;(ze)"Scheduled Bank" shall have the same meaning as assigned to it in the Reserve Bank of India Act, 1934 (Act 2 of 1934);(zf)"section" means a section of this Act;(zg)"self-supporting co-operative society" means a self-supporting co-operative society registered under this Act;(zh)"self-supporting co-operative society with limited liabilities" means the self-supporting co-operative society in which the liability of its members for its debts in the event of its being wound up, is limited by its bye-laws to such an extent as they may undertake to contribute to the assets of such society;(zi)"self-supporting co-operative society with unlimited liabilities" means the self-supporting co-operative society, the members of which are in the event of its being wound up, jointly or severally liable for and in respect of its obligations and to contribute to any deficit in the assets of the society;(zj)"service" means such facilities as are provided by the self-supporting co-operative society to its members to meet its objectives;(zk)"special resolution" means a resolution of the general body or delegate general body passed by two-third majority of the members present and voting in the meeting;(zl)"State" means the State of Punjab;(zm)"sub-committee" means a sub-committee constituted by the Board as per bye-laws(zn)"surplus" means the net excess of income over expenditure, arrived at, at the end of a Financial year after the payment of dividend, if any, on share capital and before payment of surplus refund, allocation of reserves and other funds; and(zo)"surplus refund" means the refund from the surplus given to or credited to the accounts of the members, in proportion to their use of the services of the self-supporting co-operative society in accordance with the bye-laws and resolution of the general body.Chapter-II Registrar and registration of a self-supporting co-operative society
