Section 5 in Punjab Self-Supporting Co-operative Societies Act, 2006
5. Conversion of a primary co-operative society into self-supporting co-operative society.
(1)Notwithstanding anything contained in the Punjab Co-operative Societies Act, 1961 (hereinafter in short referred to as the Act of 1961), a primary co-operative society which intends to convert itself into a self-supporting co-operative society, may apply to the Registrar for conversion into a self-supporting co-operative society under this Act:Provided that where the Central Government or State Government has given Government aid to such a co-operative society, it shall, before applying for such conversion, return such Government aid;Explanation. - For the purpose of this sub-section, the expression "primary co-operative society" shall mean a co-operative society whose membership consists exclusively of individuals.(2)An application for conversion shall be submitted to the Registrar by hand or by registered post, by the duly authorised person of such primary co-operative, society, along with the special resolution passed in this regard by giving thirty days notice.(3)The duly authorised person shall furnish such information with regard to the primary co-operative society applying under sub-section (I), as the Registrar may require.(4)Every such application shall be accompanied by-(a)a true copy of the special resolution passed by the general body certifying the fact that such primary co-operative society shall follow the co-operative principles and guidelines, mentioned in the Schedule;(b)two copies of the bye-laws adopted by the general body of such primary co-operative society through a special resolution;(c)evidence to show that the primary co-operative society is not in possession of any Government aid from the Central Government or the State Government;(d)a true copy of the latest annual report and audited statement of accounts of such primary co-operative society;(e)a list of members, who attended the meeting of general body or delegate general body of such primary co-operative society; and(f)receipt of deposit of registration fee as may be specified from time to time by the Registrar.(5)If the Registrar is satisfied that the application and the proposed bye-laws are in consonance with the provisions of this Act, he shall convert the primary co-operative society into a self-supporting co-operative society and register the same as such and its bye-laws and issue a certificate of registration and return the copy of the registered bye-laws duly signed and sealed by him within a period of sixty days from the date of receipt of application to such society through its duly authorised person.(6)If the application for registration is not in conformity with the provisions of sub-sect ions (4) and (5), the Registrar, after giving an opportunity of being heard to such a society, shall communicate by registered post, the order of refusal for registration along with the reasons therefor within a period of sixty days from the date of receipt of application for registration to the said society.(7)Where an order of refusal is received tinder sub-section (6) by the duly authorised person within the period, specified in that sub-section, he may -(a)submit an application to the Registrar against the refusal and seek registration afresh; or(b)make an appeal against the order of refusal or delay in issuing the certificate of deemed registration to the Co-operative 'tribunal within a period of sixty days from the date of communication of such an order.(8)The certificate of registration signed by the Registrar with the seal of his office, shall be the conclusive evidence that the self-supporting Co-operative society mentioned therein is duly registered under this Act.(9)If the application for registration is not disposed of within a period of sixty days or the Registrar fails to communicate the order of refusal within that period, the application shall be deemed to have been accepted for registration in accordance with the provisions of this Act after the expiration of a period of thirty days from the said period of sixty days.(10)Where a primary co-operative society is converted and registered under sub-section (5), it shall send to the Registrar, Co-operative Societies, a copy of registration certificate issued under the Punjab Co-operative Societies Act, 1961, and the Registrar shall, within a period of thirty days from the receipt of such copy, cancel registration of such primary co-operative society and delete the name of such society from the register maintained by him.(11)Consequent upon the conversion of a primary co-operative society into a self-supporting co-operative society, the assets, liabilities, rights, obligations and transactions of such primary co-operative society shall be deemed to be the assets, liabilities, rights, obligations and transactions of the self-supporting co-operative society. Like-wise, the members of the primary co-operative society shall be deemed to be the members of the self-supporting co-operative society.(12)At the time of conversion of primary co-operative society into a self-supporting co-operative society, if the term of elected Board of Directors of primary co-operative society has not expired, the same Board of Directors shall continue to hold office for the remaining term or for one year, whichever is less.
