Transcript PPT-Bye-laws-RSP -12-12-2015 v1

CERTIFICATE COURSE
IN CO-OPERATIVE SECTOR
CA. RAMESH S. PRABHU
12/12/2015,
COMMITTEE FOR CO-OP &NPO SECTOR OF ICAI .
FEATURES OF BYE LAWS:
• Written Rules & Regulation of the Society.
• Mandatory for Management of Society.
• Framework for Management of Society.
• Helps for good Administration of Society.
• Prepared by Co-operative Department/Approved
by Commissioner of co-op.
• Separate set for separate type of Society.
• Can be amended by the society or as required by
Registrar..
• For amendment General Body Resolution and
Registrar’s approval is required.
SALIENT FEATURES OF BYE LAWS OF CO-OP. HSG. SOC.
• LEGAL PROVISIONS:
• Four copies of proposed bye-laws should be submitted along with
Application for Registration of a co-operative society. Sec. 8 of MCS
Act.
• Proposed bye-laws should not be contrary to MCS Act. Sec. 9.
• Bye-laws are approved and registered by the Registering Authority
along with Registration of society. Sec. 9.
• Rule 8 contains matters in respect of which Registrar may direct
society to make bye-laws or society may make bye-laws.
• First bye-laws of society: When a society has been registered the
bye-laws of the society as approved and registered by the Registrar
shall be the bye-laws of he society. Rule 9.
• Amendment of bye-laws at the instance of the society. Section 13
and Rule 12
• Registrar to direct societies to amend by-laws. Sec. 14.
SALIENT FEATURES OF BYE LAWS OF CO-OP. HSG. SOC.
• MODEL BYE LAWS:
Model Bye Laws published by Department
of Co-operation from time to time are
approved by the Commissioner for Cooperation and the Registrar of Co-operative
Societies,
Maharashtra
State,
Pune.
Generally almost all the registered cooperative societies prefer to adopt Model
Bye Laws as their registered Bye Laws.
SALIENT FEATURES OF BYE LAWS OF CO-OP. HSG. SOC.
• ADOPTION OF NEW BYE-LAWS:
The new revised Bye-laws, published by Department of Cooperation from time to time are required to be adopted in place of
the Bye-laws under which society was registered following
procedure as laid down in the section 13 of the Act. The procedure
is as under:
• 1. The members of the society shall be informed in advance through
circular about proposal of adoption of new Model Bye-laws, making
available both the old and new Bye-laws for their study.
• 2. A General Meeting of members to discuss and decide on
adoption of New Model Bye-laws shall be called giving 14 days clear
notice.
• 3. Resolution to adopt New Model Bye-laws shall be approved by
2/3 Majority of the members present in the meeting.
ADOPTION OF NEW BYE-LAWS:
4. Within 2 months of the General Meeting in
which adoption resolution is passed, the proposal of
adoption is required to be submitted to the
Registering Authority along with following
documents:
a) 4 copies of the Model Bye-laws adopted, dully
filled in and signed at the required places.
b) A certified copy of existing registered Bye-laws.
c) All enclosures dully filled and signed under
society stamp/seal.
d) Applicable Adhesive non-judicial stamp affixed
on covering letter.
ADOPTION OF NEW BYE-LAWS:
If the proposal of adoption is not submitted to the Registering
Authority, within prescribed time period of two months from its
adoption, it lapses. Also without approval of Registering Authority
under his sign and stamp, the provisions of the Bye-laws are not
applicable.
Registering Authority should take appropriate decision within 2
months, if fails, forward the proposal to immediate higher
Authority within next 15 days. Higher Authority should take
decision within 2 months, thus in total maximum 4 and ½ months.
DEEMED REGISTRATION OF ADOPTION OF BYE LAWS:
If the higher Authority also fails to take decision within 2 months =
Deemed Registration of bye-laws.
SALIENT FEATURES OF BYE LAWS OF CO-OP. HSG. SOC.
•
CONTENTS OF BYE-LAWS:
• Bye-laws of co-operative housing societies contain total
177 bye-laws which are divided into XVIII (18) parts. There
are three Annexures and about 28 Appendixes (prescribed
forms) to the bye-laws.
• The Bye-laws contains following provisions:
• 1. Name of the Society, Procedure for changing the name
of society, Classification of society, Address of the society,
procedure for change in address of society, exhibition of
name board of the society.
• 2. Interpretations/meanings of applicable words and
terms.
• 3. Area of operation, objects, and affiliation to federal
society.
CONTENTS OF BYE-LAWS:
4. Raising of Funds, Share Capital, Limit of Liabilities,
Constitution of the Reserve Fund, Creation of Other
Funds, Utilization of the funds by the society,
Investment of Funds.
5. Classes of members, Eligibility for Membership,
Conditions of Membership, Rights of members,
Resignation of Membership, Resignation by an
Associate Member, Resignation by a Nominal member,
who is Sub-let tee, Licensee, Caretaker, etc.,
Nominations by Members, Transfer of shares and
interest of the deceased member to Nominee/Heir,
Transfer of shares and interest to the Transferee/s,
Exchange of Flats, Sub-letting etc. Flats.
CONTENTS OF BYE-LAWS:
6. Responsibilities and Liabilities of Members Maintenance of Flats by Members, Expulsion of a
Member, Cessation of Membership, Liabilities of a
member and the past member.
7. Levy of charges of society.
8. Incorporation, duties and powers of the society.
9. General Meetings - First General Meeting,
Annual General Meetings, Special General Body
Meetings,
10. Management of the affairs of the society –
General Body, Managing Committee.
CONTENTS OF BYE-LAWS:
11. Maintenance of books of account and registers.
12. Appropriation of profits
13. Writing off of out standings found irrecoverable
14. Audit of accounts of the society
15. Conveyance of the property and repairs to and
maintenance of the property
16. Other miscellaneous matters
17. Redressal of complaints.
SALIENT FEATURES OF BYE LAWS OF CO-OP. HSG. SOC.
• ANNEXURES TO THE BYE LAWS:
I) Membership of Corporate Bodies in Cooperative Housing Societies.
II) List of forms prescribed under the byelaws.
SALIENT FEATURES OF BYE LAWS OF CO-OP. HSG. SOC.
APPENDICES/FORMS:
LIST OF FORMS PRESCRIBED UNDER THE BYE-LAWS.
Form 1: Share Certificate
Form 2: Application for membership of Society by a Nominee/heir,
who is minor, through his Guardian/Legal Representative.
Form 3: Application for membership of the Society by an individual.
Form 4: Undertaking by the Prospective Member to use the flat for the
purpose for which it is purchased.
Form 5: Undertaking by the person, on whom the Prospective nonearning member is dependent for discharge of liabilities to the Society.
Form 6: Application for membership of the Society by a Firm, a
Company or a Body Corporate.
Form 7: Application for Associate Membership by an individual, who
desires to hold shares jointly, with another person, who is already
admitted to membership of the Society.
APPENDICES :
Form 8: Application for Associate Membership where both
the persons apply for Associate membership at a time.
Form 9: Application for Associate Membership by a Firm
or a Company or a Body Corporate and with the Person
already admitted to membership of the Society.
Form 10: Application for Associate Membership where the
Firm, the Company or the Body Corporate and the other
person desires to apply for such membership at a time.
Form 10(A): No Objection Certificate and Undertaking
from the Original Member to be submitted by the
Associate Member intending to be a Member of the
Managing Committee of the Society.
APPENDICES :
Form 11: Application for Nominal membership by the Sub-Let tee,
the Licensee or the Care-taker.
Form 12: Letter of allotment of flats to Member.
Form 13: Notice of Resignation of membership of the Society by a
member.
Form 14: Nomination by a member.
Form 15: Application for membership by the Nominee/Nominees.
Form 16: Notice, inviting claims or objections to the transfer of the
shares and the interest of the Deceased Member in the
Capital/Property of the Society.
Form 17: Application for membership by the Heir of the Deceased
Member of the Society.
Form 18: Indemnity Bond where there are more nominees than one.
Form 19: Indemnity Bond where there is no nomination.
APPENDICES :
Form 20(1): Notice of intention of a member to transfer his shares and interest in
the Capital/Property of the Society.
Form 20(2): Letter of consent of the proposed Transferee for the transfer of the
proposed Transferee for the transfer of the Shares and interest of a
member(Transferor) to him (Transferee).
Form 21: Application for the transfer of Shares and interest in the
Capital/Property of the Society by the Proposed Transferor being an individual.
Form 22: Application for the transfer of Shares and interest in the
Capital/Property of the Society by the Proposed Transferor being a Body
Corporate.
Form 23: Application for membership of the Society by the Proposed Transferee
being an individual.
Form 24: Application for membership of the Society by the Proposed Transferee
being a Body Corporate.
Form 26: Intimation by the Society to the Transferee about exercise of rights of
Membership by him.
Form 27: permission to sub- let give on leave and license or caretaker basis his flat
or part thereof.
Form 28: application for permission to hold more than one flat in the
building/buildings of the Society.
Co-op Enterprises & Co-op Stakeholders
Let us be Partner in Nation Building
CA.Ramesh S. Prabhu, FCA, CISA(USA)
O9820106766/ [email protected]
What is all this empowering us to do? Innovate, Get
involved & Solve social problems for financial
inclusion and better India through Co-ops!
Thank you for Getting
involved in the discussion!
CA RAMESH PRABHU ,
– 09820106766
EMAIL:[email protected]
CHAIRMAN
MAHARASHTRA SOCIETIES WELFARE ASSOCIATION, MEMBER OF TASK FORCE FOR NPOS & COOPS OF MAHARASHTRA, CONVENER TO PREPARE GUIDANCE NOTE ON AUDIT OF DISTRICT AND STATE
CO-OP BANKS –PUBLISHED BY PDC OF ICAI, CO-OPTED MEMBER OF CO-OP COMMITTEE
(MAHARASHTRA) OF WIRC OF ICAI.