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The Andhra Pradesh Co-Operative Societies (Amendment) Act, 1987

Act 26 of 1987

Keyword(s): Arbitrator, Auditor, By-Laws, Co-Operative Year, Dispute, Financing Bank, Land Mortgage Bank, Liquidator, Society, Society with Limited Liability, Sale Officer, Trustee, Organiser Amendments and appended: 28 of 1988, 5 of 1989, 16 of 1989, 13 of 1990, 1 of 1991, 2 of 1991, 3 of 1991, 10 of 1991, 15 of 1991, 16 of 1991, 8 of 1992, 5 of 1993, 4 of 1995, 29 of 1995, 22 of 1996, 5 of 1998, 6 of 1998, 2 of 1999, 3 of 1999, 15 of 2000, 4 of 2012

2.ln the Xndhra l'raclesh Co-upcmrive Socictics Act, Sabs!ilu- i'364, for section 12-A, tl~c following shall be substituted, Lionor

r~:lmely :- srcijon 12-A, Act lor 1964.

(a) in which majority of lhe shares are held, or

"Spccial provisions in resPrct of ccnain Socic~ics.

@) r~ which loan exceeding fiflypzrcentof the totalloan borrowed is advanced, or

12-A (1) Notwithstmding anylhingconlained in this Act or he rules made thereunder or thc bye-laws of thc societies concerned or in any other law forthe time being in force, where, in

(c) in wilicb liabiliks by way ofgzrar;mtee for bornwing kc1 uding working capild bornwing exceeding fi fly percent of the ~olal borrowings are undertaken, by the Government or one or more Govcrnrnenl Cu111panics or one or more corporations owned or controlled by Ihe Governmeng or a society in which majority of shares are held by one or more of the aforesaid persons or any combina1ionthcreof;-

die opinion of the Regism, a society,-

(i) has become asick co-operalive society and thereis no possibility to rehabilitate it; or

(i j) being in processing, manufacturing or OW industid sector, bas ils unit or units lying incomplete or idle or under- utlisied fcir want of funds or for any other reason, or ceased to undertake its operatiurn, or cannot undertake its operations in a viable manner, or

(iii) being in marketing, trading, wrnrncrcial or aiiy olher sector has ceased to undertake its operations, or cannot ~ m d c w k c it? operations in aviable manner.

and it is necessary in public intercst to transfer its asscts or assets and Iiabili ties, i n ~ v h o l ~ or in part, to any other person, he may make an ordcr to that efkcl.

(2) (i) The Registrar shall, before rorming thc opinion and making he orderunder sub-scction (I), givcm opprnmity to thesociety by calling upon i t by notice in writing in such mmerasmay be prescribed to shte jrs objections or n~akc ik representations, i f any, and c~nsidcr the objections or representations, ifany, so stated or made.

(ii) It shall be the responsibility of the society to place the oatice meived fiom theRegistrar bcfore Lhe general body convened for the purpose and communicate iis objections or represcrdatiom, if any, to (he Registrar 14,vithin a period of four tvceeks h m theda te ofreceipi ofthe nqlice fi-om him:

Provided that the Registrar may rcceive (be objections - orrepmcn~tions,i£any,~omIhesocie~a~er~~esaidpcriod

: of four weeks but not later than fivc weeks from the dale aforesaid, if heis satisfied hat the society was prevcntcd by sufficient cause from slating i(s objections or making i l s represenlations,if any, in lime.

(3) W e r e hc Registrar has made an order under sub- section (11, he may appoint the ln~plen~entatjoo Secretarial or any olher committee, c~nsultant OT zdviser having the requisite expertise or experience to assist and advise htn for the purpose of,-

(i)assessing the value of t h e assests or the assets and I : liabilities, in whole or in part, of Ihe society;

(ii) f oda t i ng tenns and con& lions for m f e r ofassm or zssestsand liabilities, in whole or in part, ofthe society;

A. 303[1]

Registered No. HSE/49 [Price : Rs. 0-90 Paise.

B…{«§æþ{糧óþÔŒý Æ>fç³{™èþÐèþ$$B…{«§æþ{糧óþÔŒý Æ>fç³{™èþÐèþ$$B…{«§æþ{糧óþÔŒý Æ>fç³{™èþÐèþ$$B…{«§æþ{糧óþÔŒý Æ>fç³{™èþÐèþ$$B…{«§æþ{糧óþÔŒý Æ>fç³{™èþÐèþ$$THE ANDHRA PRADESH GAZETTE

PART IV-A EXTRAORDINARY

PUBLISHED BY AUTHORITY

ANDHRA PRADESH BILLSANDHRA PRADESH LEGISLATIVE ASSEMBLY

The following Act of the Andhra Pradesh Legislature,received the assent of the Governor on the 12th April, 2012and the said assent is hereby first published on the 16thApril, 2012 in the Andhra Pradesh Gazette for generalinformation.

ACT No. 4 OF 2012.

AN ACT FURTHER TO AMEND THE ANDHRAPRADESH CO-OPERATIVE SOCIETIES ACT, 1964.

Be it enacted by the Legislature of the State of AndhraPradesh in the Sixty-third year of the Republic of India asfollows:-

No. 1] HYDERABAD, FRIDAY, FEBRUARY 24, 2012.

B…{«§æþ{糧óþÔŒý Æ>fç³{™èþÐèþ$$THE ANDHRA PRADESH GAZETTE

PART IV-B EXTRAORDINARY

PUBLISHED BY AUTHORITY

ANDHRA PRADESH ACTS, ORDINANCES ANDREGULATIONS Etc.

Registered No. HSE/49 [Price : Rs. 0-30 Paise.

No. 4] HYDERABAD, MONDAY, APRIL 16, 2012.

2 ANDHRA PRADESH GAZETTE EXTRAORDINARY [Part IV-B

Shorttitle andCom-mence-ment.

1. (1) This Act may be called the Andhra PradeshCo-operative Societies (Amendment) Act, 2012.

(2) It shall be deemed to have come into force witheffect from the 17th October, 2011.

2. In the Andhra Pradesh Co-operative SocietiesAct, 1964, in section 115-D, in sub-section (16), in theproviso to clause (a), for the words “total period of oneyear”, the words “total period of two years” shall besubstituted.

3. Notwithstanding anything contained in theprovisions of the principal Act and of all notifications, ordersand the rules issued or made thereunder and are in forceimmediately before the 17th October, 2011, shall continueto be in force after that date until amended, varied orrescinded, as if such provisions were made under theprincipal Act as amended by the Andhra PradeshCo-operative Societies (Amendment) Act, 2012 andanything done or any action taken (including any ordersissued or proceedings initiated) in pursuance of thoseprovisions on or after the 17th October, 2011, and beforethe commencement of the Andhra Pradesh Co-operativeSocieties (Amendment) Act, 2012 shall be as valid andoperative as if it had been done or taken in accordancewith Law.

4. The Andhra Pradesh Co-operative Societies(Amendment) Ordinance, 2012 is hereby repealed.

Amend-ment ofSection115-D.Act 7 of1964.

Valida-tion.

RepealofOrdi-nance 2of 2012. A. SHANKAR NARAYANA,

Secretary to Government,Legislative Affairs & Justice,

Law Department.

PRINTED AND PUBLISHED BY THE COMMISSIONER OF PRINTING, AT LEGISLATIVE ASSEMBLY PRESS, HYDERABAD.2012