Assam Co-operative Societies (Amendment) Act, 1975

No: 13 Dated: Oct, 22 1975

THE ASSAM CO-OPERATIVE SOCIETIES (AMENDMENT) ACT, 1975

ASSAM ACT XIII OF 1975

    An Act Further to amend the Assam Co-operative Societies Act, 1949.

    Preamble:- Whereas it is expedient further to amend the Assam Co-operative Societies Act, 1949 (Assam Act I of 1950) hereinafter called the principal Act in the manner hereinafter appearing;

    It, is hereby enacted in the twenty sixth year of the Republic of India as follows :—

1. Short title, extent and commencement:- (i) This Act may be called the Assam Co-operative Societies (Amendment) Act, 1975,

(ii) It shall have like extent as the Principal Act

(iii) Sections 2, 7, 8 and 9 shall be deemed to have come into force with effect from 1st November, 1974. The remaining sections shall come into force at once.

2. Insertion of two new sub-sections 2 (s) and (t):- In Section 2 of the Principal Act, after clause (r), following shall be added as a new clause, namely:—

(s) "Bank” means—

(i) A Banking Company as defined in the Banking Regulation Act, 1949.

(ii) The State Bank of India constituted under the State Bank of India Act, 1955.

(iii) A subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959.

(iv) A corresponding new Bank constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.

(v) The Agricultural Refinance Corporation constituted under the Agricultural Refinance Corporation Act, 1963.

(vi) Agricultural Finance Corporation Limited, a company incorporated under the Indian Companies Act, 1956; and

(t) A "Financing Bank” means a bank as defined in clause (s) of Section 2 of this Act or a Co-operative Bank providing working capital to a registered Co-operative Society.