THE ODISHA CO-OPERATIVE SOCIETIES (AMENDMENT) ACT, 2018
TABLE OF CONTENTS
PREAMBLE :
SECTIONS :
1. Short title.
2. Amendment of Section 18.
2 3EXTRAORDINARY
PUBLISHED BY AUTHORITY
No. 2063, CUTTACK, FRIDAY, NOVEMBER 9, 2018/ KARTIKA 18, 1940
LAW DEPARTMENT
NOTIFICATION
The 9th November, 2018
No.12356–I-Legis-26/2018/L.—The following Act of the Odisha Legislative Assembly having been assented to by the Governor on the 2nd November, 2018 is hereby published for general information.
ODISHA ACT 24 OF 2018
THE ODISHA CO-OPERATIVE SOCIETIES (AMENDMENT) ACT, 2018
AN ACT TO AMEND THE ODISHA CO-OPERATIVE SOCIETIES ACT, 1962.
BE it enacted by the Legislature of the state of Odisha in Sixty-ninth Year of Republic of India as follows:-
1. This Act may be called the Odisha Co-operative Societies Short title.
Odisha Act (Amendment) Act, 2018.
2 of 1963.
2. In the Odisha Co-operative Societies Act, 1962, in section 18, in Amendment
of section 18. sub-section (1), —
(i) for the words "and Farmers' Service Co-operative Society", the words and comma", Farmers' Service Co-operative Society and Society dealing with credit business" shall be substituted;
4(ii) the following Explanation shall be added, namely: —
Explanation.— 'Society dealing with credit business' means the Primary Society, other than the Co-operative Bank and Society organised exclusively for promotion of economic interest of any particular professional or occupational group, whose principal object is accepting deposit and advancing loan."; and
(iii) the following proviso shall be added, after the explanation so added, namely:-
"Provided that the nominal member so enrolled, prior to the commencement of the Odisha Co-operative Societies (Amendment) Act, 2018, shall discharge the liability incurred, if any, and the Society shall refund the share capital contribution, after its determination and any other dues to such nominal member within a period of one year from the date of such commencement."
By order of the Governor
SASHIKANTA MISHRA
Principal Secretary to Government
Printed and published by the Director, Printing, Stationery and Publication, Odisha, Cuttack-10 Ex. Gaz. 1540-173+580