Centre decided to Amend Multi State

Описание: Centre decided to Amend #MultiStateCooperativeSocieties (MSCS) Act, 2002
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The Centre has decided to amend the #MultiStateCooperativeSocieties (MSCS) Act, 2002 to plug the loopholes in the Act.

The International Cooperative Alliance (ICA) defines a #Cooperative as “an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise.”

#MultiStateCooperativeSocieties: Although #Cooperatives is a state subject, there are many societies such as those for sugar and milk, banks, milk unions etc whose members and areas of operation are spread across more than one state.

The word “cooperatives” was added after “unions and associations” in Article 19(1)(c) under Part III of the Constitution.

A new Article 43B was added in the Directive Principles of State Policy (Part IV) regarding the “promotion of cooperative societies”.

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