THE ODISHA CO-OPERATIVE SOCIETIES (AMENDMENT) ACT, 2018
TABLE OF CONTENTS
PREAMBLE :
SECTIONS :
1.
Short title.
2.
Amendment of Section 18.
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EXTRAORDINARY
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
Short title.
Amendment
of section 18.
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
(Amendment) Act, 2018.
2. In the Odisha Co-operative Societies Act, 1962, in section 18, in
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;
Odisha Act
2 of 1963.
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