Cabinet nod to amendments in cooperative societies bill

The Cabinet Thursday approved amendments to the Multi-State Co-operative Societies (Amendment) Bill, 2010, pending in the Lok Sabha, to ensure its provisions are in conformity with the Constitution (Ninety-Seventh Amendment) Act, 2011, an official statement said.

The amendments provide for reviving sick societies and say that if the central registrar, at any time, is of the opinion that a multi-stateco-operative society has become sick, then it may declare it so.

Further, the changes say that the central government, or any person authorized by it, will prepare a scheme for rehabilitation and reconstruction of such a sick society. The society will then place the proposal before its general body for approval.