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Panaji, 18th October, 2023 (Asvina 26, 1945)

SERIES I No. 28

Reg. No. RNP/GOA/32/2021-2023

RNI No. GOAENG/2002/6410

PUBLISHED BY AUTHORITY

Suggestions are welcomed on e-mail: dir–[email protected]

GOVERNMENT OF GOA

Department of Law

Legal Affairs Division

Notification

7/32/2023-LA

The Goa Co-operative Societies (Second

Amendment) Act, 2023 (Goa Act 42 of 2023),

which has been passed by the Legislative

Assembly of Goa on 03-08-2023 and assented

to by the Governor of Goa on 4-10-2023, is

hereby published for the general information

of the public.

Dnyaneshwar Raut Dessai, Joint Secretary

(Law).

Porvorim, 18th October, 2023.

––––––––

The Goa Co-operative Societies (Second

Amendment) Act, 2023

(Goa Act 42 of 2023) [4-10-2023]

ACT

further to amend the Goa Co-operative

Societies Act, 2001 (Goa Act 36 of 2001).

EXTRAORDINARY

No. 2

BE it enacted by the Legislative Assembly

of Goa in the Seventy-fourth Year of the

Republic of India as follows:—

1. Short title and commencement.— (1) This

Act may be called the Goa Co-operative

Societies (Second Amendment) Act, 2023.

(2) It shall come into force on such date as

the Government may, by notification in the

Official Gazette, appoint.

2. Substitution of section 24.— In the Goa

Co-operative Societies Act, 2001 (Goa Act 36

of 2001) (hereinafter referred to as the

“principal Act”, for section 24, the following

section shall be substituted, namely:—

“24. Cessation of membership.— (1) A

person shall cease to be a member of a

society on his resignation from the

membership, or on the transfer of the

whole of his share or interest in the society

to another member, or on his death, or

removal or expulsion from the society, or

ceasing to hold the qualification for the

membership under the bye-laws of the

society, or where a firm, company, any

other corporate body, society or trust is a

member, on its dissolution or ceasing to

exist.

(2) The member may resign from the

membership of the society by writing

OFFICIAL GAZETTE — GOVT. OF GOA

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18TH OCTOBER, 2023

2150

under his hand a letter on a plain paper

addressed and submitted to the Chairman

and in his absence, to the Vice Chairman,

and in their absence to the Chief Executive.

(3) Resignation of member shall become

effective on expiry of ten days from the

date of submission of resignation letter

under sub-section (2) unless before expiry

of the said period he withdraws such

resignation by writing under his hand a

letter addressed to the Chairman, Vice-

Chairman or Chief Executive, as the case

may be.”.

3. Amendment of section 42.— In section

42 of the principal Act, (i) for sub-section (2),

the following sub-section shall be substituted,

namely:—

“(2) Notwithstanding anything contained

in any other provisions of this Act or any

other Act for the time being in force, every

co-operative society, the primary object of

which is to create funds for lending money

to its members, shall at all times abide by

the following conditions, namely:—

(a) loan shall not be sanctioned to any

person who is not a citizen of India;

(b) the rate of interest charged for any

kind of loan shall not be more than

thirteen per cent per annum;

any loan, the penal interest chargeable

shall not be more than two per cent per

annum over and above the rate of

interest applicable to the loan as per

sanctioning terms;

(d) the processing fees payable by

whatever name called for processing and

sanctioning of any loan shall not exceed

0.25% of the loan amount sanctioned and

such processing fees shall not be

charged more than once for any loan

account;

(e) interest on all types of loans shall

be charged at every quarter ending with

June, September, December and March

or monthly basis as may be decided by

the board of directors from time to time;

(f) there shall be no other charges or

hidden costs while sanctioning of any

loan except in accordance with this

section.”;

(ii) after sub-section (2), the following

sub-section shall be inserted, namely:—

“(3) Where the Registrar is satisfied

that any society has failed to abide by

any condition specified in sub-section (2),

he may take following action against the

person responsible, namely:—

(a) if such person is a member of

the committee of the society, by order

remove him from the committee and

appoint any other person as a member

of the committee for the remainder of

the term of his office and declare him

to be disqualified to be such member

for a period of six years from the date

of the order;

(b) if such person is an employee of

the society, by order direct the

committee to remove such person

from employment of the society

forthwith, and if any member or

members of the committee, without

any justifiable reason fail to comply

with such order, remove the member

and appoint any other person/s as

member/s

and

declare

them

disqualified as provided in clause (a)

above;

responsible for any violation of the

conditions imposed under sub-section

(2), take the cognizance of such

violation and after giving due

opportunity to the member concerned

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of being heard, may disqualify him to

continue on the board for the

remainder term. The member so

disqualified shall be ineligible for

being chosen as a director of said

society forever:

Provided that before passing any order

under this sub-section, the Registrar shall

give a reasonable opportunity of being

heard to the person or persons concerned

and consult the federal society to which

the society is affiliated.

(4) Order passed by the Registrar under

sub-section (3) shall be final.”.

4. Amendment of section 67.— In section

67 of the principal Act,—

(i)for sub-section (4), the following sub-

section shall be substituted, namely:—

“(4) Any member of the board may

resign his office by writing under his

hand a letter on a plain paper addressed

and submitted to the Chairman and the

Chairman may resign his office by writing

under his hand a letter on a plain paper

addressed and submitted to the Chief

Executive. In the event of resignation of

office bearer, the election of new office

bearer shall be done in accordance with

the provisions of bye-laws of the society.

In the event where the resignation is

from majority of the members on the

board including the Chairman, or

otherwise, such resignations shall be

handed over to the Chief Executive who

shall forward the same to the Registrar.

The Registrar, after receiving the

resignations of the majority of the

members of the board shall assess the

situation and decide the course of action

in accordance with the provisions of the

Act.”;

(ii) after sub-section (4), the following

sub-sections shall be inserted, namely:—

“(5) Resignation under sub-section (4)

shall become effective on expiry of ten

days from the date of submission of

resignation letter under sub-section (4),

unless before the expiry of said period

of ten days such member by writing

under his hand a letter addressed to the

Chairman,

Vice-Chairman,

Chief

Executive or the Registrar, as the case

may be, withdraws his resignation.

(6) The member of the board shall be

deemed to have vacated his post and he

shall cease to hold such post from the

date his resignation becoming effective

under sub-section (5).

(7) After such resignation becoming

effective, the Chief Executive shall within

seven days convene a meeting of board

and

place

such

resignation

for

information of the board.

(8) The Chief Executive shall submit a

detailed report of the vacancy arising due

to resignation to the Registrar within 15

days from the date of resignation

becoming effective.

(9) The member who has resigned

from the post of director or office bearer

shall not be subject to any duties or

liabilities of such post under this Act or

Rules or bye-laws of the Society

concerned from the date of his

resignation becoming effective under this

section.

(10) Notwithstanding the fact that a

member has resigned from the post of

director or office bearer of Society, all

outstanding dues payable by him as on

the date of his resignation taking effect

shall be paid by such member to the

Society failing which the same shall be

recovered from him in the same manner

as provided under this Act for recovery

from a member of the Society.

(11) In the event of such post of

director or office bearer as the case may

be falling vacant, the same shall be filled

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in accordance with the provisions of this

Act and the rules as may be applicable.”.

5. Amendment of section 74.— In section

74 of the principal Act, in sub-section (9),

after the second proviso, the following proviso

shall be inserted, namely:—

“Provided also that in any case of the

above societies, if there is no paid employee

or if the employee/s available and/or the

Chief Executive is, in the opinion of the

board of directors not capable of preparing

such statement of accounts and audit

report as required under sub-section (9) of

this section, then, the board of directors

may adopt a resolution to appoint an

Auditor from the panel of Auditors

prepared under this section and obtain

audit report instead of statement of

accounts by the chief executive and may

comply with the provisions of sub-section

(9) by using such audit report in place of

statement of account by chief executive.”.

SANDIP JACQUES,

Secretary to the

Secretariat,

Government of Goa,

Porvorim-Goa.

Law Department

Dated: 18-10-2023.

(Legal Affairs).

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