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Thursday, Mar 10, 2005

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Money & Banking - Co-operatives


AP Co-op Act to be amended

Our Bureau

HYDERABAD: A Bill to amend the Andhra Pradesh Co-operative Societies Act, 1964, was introduced in the Legislative Assembly on Wednesday.

According to the Minister for Co-operation, Mr K. Lakshmi Narayana, who introduced the bill in the House, the legislation is aimed at strengthening the co-operative movement in the State.

The bill provides for, among other things, admission of any individual as associate member of the society, to fix minimum majority in the general meetings for taking decisions on amalgamation and division of societies and amendment of bye-laws, admission of Self Help Groups, Rythu Mithra Groups and Non-Government Organisations as associate members without any voting rights, entrusting the managing committee with the power of admitting members in a society and indirect election to the office of the President of a society.

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