Panaji, 22 nd January, 2008

42 · -7 -2008/TS/RCS

42 · -7 -2008/TS/RCS

42 · -2 -2001/TSRCS(Suppl.)

2 · -20 -2015/EST/RCS/2256

1 · STATE CO -OPERATIVE BANKS

2 · RESOURCE SOCIETIES

3 · AGRICULTURAL SERVICE CO -OP. SOCIETIES

10 · For next every Rs.1.00 lakh from above Rs.20.00 lakh

5 · CO -OPERATIVE BANKS

6 · CO -OPERATIVE FARMING SOCIETIES

8 · PROCESSING SOCIETIES

9 · PRODUCERS SOCIETIES

10 · Lift Irrigation Societies

11 · GENERAL CO -OP. SOCIETIES

2 · RESOURCE SOCIETIES

3 · AGRICULTURAL SERVICECO -OP. SOCIETIES

4 · CONSUMER CO -OP.SOCIETIES

5 · CO -OPERATIVE BANKS

6 · CO -OPERATIVE FARMING SOCIETIES

7 · CO -OP. HOUSING SOCIETIES

8 · PROCESSING SOCIETIES

9 · PRODUCERS SOCIETIES

10 · LIFT IRRIGATIONSOCIETIES

11 · GENERAL CO -OP.SOCIETIES

1 · Short title and commencement. — (1) This Act may be called the Goa Co-operative Societies(Amendment) Act, 2022.

2 · Amendment of section 123A.— In section 123A of the Goa Co-operative Societies Act, 2001 (Goa Act 36 of 2001) for sub-section (3), the following sub-section shall be substituted, namely:—

5 · Objectives of the Society.—

6 · Services of the Society.—

7 · Membership.—

2 · "B" CLASS Members -Nominal Members: Every nominal member shall have the followingrights:

8 · Funds and Resources: —

9 · General Body.— (1) Subject to provisions of the Act & Rules, the final authority in the Society shall vest in the General Body. The General Body of the Society shall consist of the following:

9 · Board of Director. —

10 · Chairman/Chairperson and his powers.— (1) The Chairman/Chairperson shall be elected fromamongst the elected/appointed members of Board of Directors in terms of Act and Rules.

11 · Chief Executive Officer/Secretary-Duties and Responsibility.— (1) The Chief Executive Officer,by whatever name may be called, shall be appointed by the Board of Directors to look after day-to-dayaffairs and administration of the Society as per the Act/Rules/Byelaws. He should possess the necessaryeducational qualification, experience and training as decided in the Staff Service Rules of Society by the Board of Director.

12 · Maintenance of Books and Accounts and Registers.—

13 · Audit of the Society.— (1) The Books of accounts and records of the Society shall be audited interms of relevant provisions of the Act and by the Auditor appointed for the purpose by the General Body of Society from panel of Auditors constituted by the Registrar.

14 · Change of Liability, Transfer of Assets and Liabilities, Division, Amalgamation.— (1) The Society may, by a resolution in its General Body, a) decide to amend its Byelaws to change the form or the extent of its liability;

15 · Promotion of Subsidiary Organisation.— (1) The Society may, by a resolution passed at General Body Meeting by a majority of members present and voting, promote subsidiary organizations such asFPO (Farmer Producer Organization) with 100% funding from Society for the furtherance of its statedobjectives, and such organizations may be registered under any law for the time being in force, as approved by the General Body.

16 · Dispute Settlement Procedure.— Any dispute touching the constitution, business and management of the Society arising between the members, past members and deceased members of theSociety or other persons shall be settled in accordance with the relevant provisions of the Act, and the Rules framed there under and shall be disposed of in the manner prescribed under such Act and the Rules.

17 · Liquidation.— (1) The Society may be dissolved or liquidated in accordance with the provisionsof the Act.

18 · Miscellaneous. — (1) If the Society is indebted to a Co-operative Central Financing institution, it shall be competent for representative of the latter to inspect the books and the record of the Society and the Board of the Society shall arrange the production of the books and record before such representatives.

1 · Short title and commencement. — (1) This Act may be called the Goa Co-operative Societies ( Second Amendment) Act, 2023.

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:—

3 · Amendment of section 42.— In section 42 of the principal Act, (i) for sub-section (2), the

4 · Amendment of section 67.— In section 67 of the principal Act,—

5 · Amendment of section 74.— In section 74 of the principal Act, in sub-section (9), after the secondproviso, the following proviso shall be inserted, namely:-

1 · Eligibility.— A. All the loans which are classified as NPA's upto 31-03-2020 and are still outstanding will be eligible for benefit under the OTS Scheme.

2 · Obligation to be adhered by the principal loanee and sureties after availing OTS Scheme. — Thebeneficiaries who are availing the benefits under the OTS Scheme shall not be entitled for any type of facilities/exemption in relation to any other loan repayment; they shall also not be eligible to avail loanor stand surety to any type of loans advanced by the society for the next 6 years.

3 · The following items/heads can be waived/exempted under this scheme.—

4 · Operative period.— The last date of application to avail the OTS shall be decided by the Board; however, the same shall not be extended beyond 31st March, 2024 from the date of issue of revised guidelines.

5 · The mode of application.— a) The applicant shall deposit 10% of the loan amount as it stands oncut -off date of classifying his loan and interest as on the date of NPA.

6 · Compromise formula.— A. On or before cutoff date the day on which the loan has been classifiedas NPA, the balance appearing in the loan ledger both principle and interest (Normal interest as per sanction letter will be charged from the date of disbursement to the date of NPA in normal course) shallbe taken as the base amount and the simple interest ranging from @ 8% to 10% as fixed by the societyfor various types/categories of loans shall be calculated on the total of the above principal and interest.

7 · OTS under the double the Principal Amount (Dam Dupat Scheme).— The loans up to

8 · OTS for gold loan account.— In the case of gold loan there should not be any sacrifice as value of security should have been adequate to recover entire loan outstanding. However, in exceptional casesonly where even after disposing off gold ornaments/ /artificial/coin etc., some outstanding amounts remains in the account; same may be covered under this scheme subject to no fraud/willful default/fakegold in the account.

9 · The obligations to be observed by the society.— A. Public notice shall be published in local newspapers, giving publicity of the scheme and also communication be sent individually to each eligibleloanee by the society.