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[Cites 0, Cited by 0] [Section 74] [Entire Act]

NCT Delhi - Subsection

Section 74(1) in The Delhi Co-operative Societies Rules, 2007

(1)Every co-operative society shall credit a sum calculated at the rate of two percent of its net profit every year subject to a maximum of fifteen thousand rupees as contribution to the Co-operative Education Fund maintained by the Registrar. The Co-operative Education Fund shall be administered by a committee constituted by Government for this purpose consisting of following members, namely: -
1 Registrar: Chairperson ;
2 Joint Registrar : Member ;
3 President or General Secretary, Delhi State CooperativeUnion: Member ;
4 Chief Executive Officer, Delhi State Cooperative Union : Member ;
5 Principle Delhi State Cooperative Training Center : Member ;
6 President or Secretary, Delhi Cooperative Urban BanksFederation Ltd. : Member ;
7 Managing Director or General Manager, Delhi StateCo-operative. Bank Ltd. Member ;
8 Chairman or General Manager of Delhi Cooperative HousingFinance Corporation : Member ;
9 Three representatives from different kind of co-operativesocieties contributing Education Fund regularly : Member ;
The term of the committee shall be three years. The five members shall constitute the quoram in a meeting of the committee. The Co-operative Education fund shall be kept with State Bank of India. The Co-operative Education Fund payable by the co-operative societies shall be a charge on the fund of the co-operative society.