Section 81A in The Gujarat Co-Operative Societies Act, 1961
81A. [ Supersession of Committee of Primary Agricultural Credit Co-operative Society. [Inserted by Gujarat 1 of 2008, section 22 (w.e.f. 8.10.2007.).]
(1)Notwithstanding anything contained in Section 81, the supersession of the committee of the State Co-operative Bank or a Central Co-operative Bank under any provision of the Act shall be done only in consultation with Reserve Bank of India.(2)The committee of a Primary Agricultural Credit Co- operative Society shall be removed by the Registrar only under the following circumstances, namely :-(i)if a society incurs losses for three consecutive years; or(ii)if serious financial irregularities or frauds have been identified; or(iii)if there is perpetual lack of quorum over a period of three months.(3)The members of the committee of a Primary Agricultural Credit Co-operative Society which has been removed under sub-section (2) shall not be eligible to become a member of the committee for a period of three years from the date of such removal.]
