Proposed Constitution (110th Amendment) Bill

1. Insertion of new article 43 B in Part IV of the Constitution providing for the State obligation to promote voluntary formation, autonomous functioning, democratic control and professional management of the cooperative societies;
2. Incorporation of cooperative societies on the principles of voluntary formation, democratic member control, member economic participation and autonomous functions;
3. Conduct of election of a cooperative society by an independent authority;
4. Fix term of five years of office bearers of the cooperative society;
5. Supersession of Board of cooperative society for a period of not exceeding six months;
6. Independent professional audit of the cooperative societies;
7. Convening of the General Body meeting of every cooperative society within a period of six months of the close of the financial year;
8. Access to every member of the society to the books, information and the accounts of the cooperative society;
9. Filing of the returns by every cooperative society within six months of the close of every financial year;
10. Free, fair, impartial and timely elections of cooperative societies by the State Election Commission or by any other appropriate and independent body as may be provided by State law;
11. Audit of the cooperative societies to be carried by the auditors from the government approved panel of auditors or firms;
12. Maximum number of 21 Directors to be applicable to all cooperative societies irrespective of their size;
13. Co-opted members not to be eligible to be elected as office-bearers of the Board.

Month: Current Affairs - December, 2009