Regarding exempt the Central Co-operative Bank, Faridkot, Punjab, from the provisions of proviso t

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	PUNJAB GOVT. GAZ. (EXTRA), JULY 15, 2021 (ASAR 24, 1943 SAKA)

EXTRAORDINARY

Published by Authority

CHANDIGARH, THURSDAY, JULY 15, 2021 (ASADHA 24, 1943 SAKA)

GOVERNMENT OF PUNJAB

DEPARTMENT OF CO-OPERATION

OFFICE OF REGISTRAR, CO-OPERATIVE SOCIETIES PUNJAB

(EDUCATION AND TRAINING BRANCH)

NOTIFICATION

The 15th July , 2021

No. RCS/EDU&TRG/EI/6400.-Where as the Governor of Punjab is satisfied that it is necessary to exempt the Central Co-operative Bank, Faridkot, Punjab, from the proviso to sub clause 1-D of Sub-section 1 of Section 26 of the Punjab State Cooperative Societies Act, 1961 for furthering the objects specified in the bye-laws of the Central Co-operative Bank, Faridkot, Punjab.

2.0 The Board of the Central Co-operative Bank, Faridkot, Punjab was suspended by the Joint Registrar Co-operative Societies, Firozpur division, vide letter no SA/JRF/685-87 dated 11.2.2020 and Deputy Registrar Co-operative Societies, Faridkot was appointed as administrator in the Bank. Term of Administrartor was not clearly mentioned in the order. In the absence of concerned authority, daily routine works like work related cash credit limits from NABARD, approval of resolutions, administrative works etc are suffering. Currently, the merger of all Central Co-operative Banks of Punjab into Punjab State Co-operative Bank, Chandigarh is under process. In order to carry out day to day affairs of the society, it is neccesary to constitute one such ad-hoc working committee till the merger process is complete and fresh elections are conducted.

3.0 Now, therefore, in excercise of the powers conferred by section 77 of the Punjab State Co-operative Societies Act, 1961 (Punjab Act No. 25 of 1961), the Governor of Punjab is pleased to exempt the Central Co-operative Bank, Faridkot, Punjab, from the provisions of proviso to sub clause 1-D of Sub-section 1 of Section 26 of the aforesaid act. This exemption is being granted for the appointment of ad-hoc working committee consisting four members in the Central Co-operative Bank, Faridkot, Punjab, to carry out day to day affairs of the society till the merger process is complete and fresh elections are conducted.

( 2893 ) PUNJAB GOVT. GAZ. (EXTRA), JULY 15, 2021 (ASAR 24, 1943 SAKA) 2894 4.0 Further to the above, Four member committee consisting of Deputy Registrar, Co-operative Societies, Faridkot, Managing Director of the Central Co-operative Bank, Faridkot, Punjab, Branch Manager of the

Central Co-operative Bank, Faridkot, Punjab and Audit Officer, Co-operative Societies Faridkot, is constituted as ad-hoc working Committee to carry out day to day affairs of the Central Co-operative Bank, Faridkot, Punjab.

K. SIVA PRASAD, IAS,

Chandigarh

The 22nd June, 2021

Financial Commissioner, Co-operation, Punjab.