Bill To Amend The Multi-State Cooperative Societies Act:
A Bill to amend the Multi-State Cooperative Societies Act was introduced in the Lok Sabha recently.
- Multi-State Cooperatives: MSCS is a Cooperative Society with objects to serve the interest of the members in more than one State.
- MSCS Act, 2002 was passed to govern such cooperatives whose members and areas of operation are spread across more than one state.
- At present, India has more than 1,500 multi-State cooperative societies.
Key amendments suggested:
- To establish a “cooperative election authority”.
- To make provisions for the “appointment of cooperative information officer”.
- To appoint one or more “cooperative ombudsmen” with territorial jurisdiction to inquire into members’ complaints.
- Insert a new Section related to the “establishment of the Cooperative Rehabilitation, Reconstruction and Development Fund” for the revival of “sick multi-state cooperative societies”
- Insert Section relating to “concurrent audit” for such multi-state societies with an annual turnover or deposit of more than the amount as determined by the Centre.
- The merger of “any cooperative society” into an existing multi-state cooperative society.
