“For the formation of co-operative societies various formalities need to be fulfilled”
Answers
Explanation:
To form or setup a co-operative society one has to follow certain set rules or guidelines which have to be followed in sequential order which will be dealt in the latter part of this paper, but firstly it is important to ascertain the nature and importance or advantages of forming a society in present scenario over other business structures.
The co-operative movement started because to protect the interests of weaker sections of society. The primary or main objective of this movement is ‘how to protect economically weaker sections of society’ from the middlemen who gain illegally by eating away the major chunk of the profits. In all forms of business structures whether be it is a sole trade, partnership or joint stock company, the primary motive is to increase profits.
The laws governing the societies are “THE co-operative societies act, 1912[1]” which is a central Act formed by the Union with the liberty to the concerned states to form their State Act governing the societies to suit their local conditions but the condition being that it should not be in derogation to the central Act. Many states have enacted their own co-operative society Act and rules there under but more or less the requirements to be met by persons who want to form the society remains the same.
Answer:
Co-operative Societies Act under which the same is registered whether it be under state Societies rules made there under whether it be central or state rulesBye-laws approved by the registrar at the time of registration and made from time to time and by the registrar, these bye-laws have to be formed by the themselves and present it to the for its .Notification and Orders by the concerned Government
Explanation:
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