PUNJAB GOVT. GAZ. (EXTRA), APRIL 26, 2021
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EXTRAEXTRAEXTRAEXTRAEXTRAORDINARORDINARORDINARORDINARORDINARYYYYY
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CHANDIGARH, MONDAY, APRIL 26, 2021
(VAISAKHA 6, 1943 SAKA)
LEGISLATIVE SUPPLEMENT
Contents Pages
Part - I Acts
The Punjab Co-operative Societies
(Amendment) Act, 2021.
.. 149-151
(Punjab Act No. 20 of 2021).
Part - II Ordinances
Nil
Part - III Delegated Legislation
Nil
Part - IV Correction Slips, Republications and
Replacements
Nil
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( liv ) PUNJAB GOVT. GAZ. (EXTRA), APRIL 26, 2021
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PART I
GOVERNMENT OF PUNJAB
DEPARTMENT OF LEGAL AND LEGISLATIVE AFFAIRS, PUNJAB
NOTIFICATION
The 26th April, 2021
No.20-Leg./2021.- The following Act of the Legislature of the State of
Punjab received the assent of the Governor of Punjab on the 26th day of
March, 2021, is hereby published for general information:-
THE PUNJAB CO-OPERATIVE SOCIETIES (AMENDMENT)
ACT, 2021
(Punjab Act No. 20 of 2021)
AN
ACT
further to amend the Punjab Co-operative Societies Act, 1961.
BE it enacted by the Legislature of the State of Punjab in the Seventy-
second Year of the Republic of India as follows:-
1. (1) This Act may be called the Punjab Co-operative Societies
(Amendment) Act, 2021.
Short title and commence- ment.
(2) It shall come into force at once.
2. In the Punjab Co-operative Societies Act, 1961 (hereinafter referred to
as the principal Act), in section 3, in sub-section (5), for the words and sign
Amendment in section 3 of Punjab Act 25 of 1961.
"purposes of appeal, ", the words and sign "purposes of appeal and revision,"
shall be substituted.
3. In the principal Act, in section 6,-
(i) before the existing proviso, the following proviso shall be inserted,
Amendment in section 6 of Punjab Act 25 of 1961.
namely:-
"Provided that in case of Urban Co-operative Bank (UCB),
shareholding of an individual member, in no case, shall exceed
five per cent of the share capital:"; and
(ii) in the existing proviso, for the words "Provided that" the words
"Provided further that" shall be substituted.
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4. In the principal Act, in section 7, for sub-section (1), the following
sub-section shall be substituted, namely:-
Amendment in section 7 of Punjab Act 25 of 1961.
"(1) For purposes of registration, an application shall be made to
the Registrar alongwith the Registration Fees, as may be prescribed, by
the Registrar from time to time.".
5. In the principal Act, in section 22, in sub-section (1), in clause (b), for the
words "two years", the words "three years" shall be substituted.
Amendment in section 22 of Punjab Act 25 of 1961.
6. In the principal Act, after section 26-B , the following section shall be
inserted, namely:-
Insertion of new section 26-C in Punjab Act 25 of 1961.
supersession of its Committee, as per the requisition of
the Reserve Bank of India, is made under sub- section
(3) of Section 70A, at any time within a period of ten
years before the date of incorporation of this section or
at any time after such incorporation, then, no member of
such Committee shall be eligible for being re-appointed,
"26-C. In case of an insured Co-operative Bank, if an order for Restriction on membership of an insured Bank imposed after the order of Reserve Bank of India as a consequence under Section 70- A.
re-nominated, re-elected or re-co-opted on the
Committee of such bank or, for being a member or being appointed,
nominated, elected, or co-opted, as a member of Committee of such
bank or any other bank, for a period of two terms of the Committee from
the date of order of supersession of the Committee.".
7. In the principal Act, in section 55, in sub-section (1), after clause (d), for
the words "such dispute shall be referred to the Registrar", the words "such
Amendment in section 55 of Punjab Act 25 of 1961.
dispute shall be referred to the Registrar within a period of six years" shall be
substituted.
8. In the principal Act, in section 66, for the words, figures, signs and brackets,
"purposes of Article 182 of the First Schedule to the Indian Limitation Act,
Amendment in section 66 of Punjab Act 25 of 1961.
1908 (9 of 1908).", the words, figures and signs "purposes of Article 136 of the
First Schedule to the Indian Limitation Act, 1963." shall be substituted.
9. In the principal Act, in section 68, in sub-section (2), in clause (e), for the
sign".", the sign ":" shall be substituted, and thereafter, the following proviso
Amendment in section 68 of Punjab Act 25 of 1961.
shall be added, namely:-
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"Provided that if an appeal is filed beyond a period of sixty days, the
Appellate Authority may condone the delay for sufficient reasons.".
10. In the principal Act, in section 69, for Explanations (i) and (ii), the following
Explanations shall be substituted, namely:-
Amendment in section 69 of Punjab Act 25 of 1961.
"(i) The Government shall notify the officers, who shall exercise these
powers on behalf of the Government. The Registrar of Co-operative
Societies may also notify the officers, who shall exercise these
powers on behalf of the Registrar.
(ii) The application of a party to a reference shall not lie before the
Registrar, if an order or decision is made in revision by the Registrar
or any authority authorized by him in this regard.".
S.K. AGGARWAL,
Secretary to Government of Punjab,
Department of Legal and Legislative Affairs.