Punjab Cabinet approves rules for facilitating Co-operative Societies

The Punjab Cabinet led by Chief Minister Captain Amarinder Singh on Monday approved the formulation of the "Punjab Self-Supporting Co-operative Rules, 2019" to facilitate the societies as independent, self-reliant and democratic business enterprises that are free from outside interference.

The Punjab Cabinet led by Chief Minister Captain Amarinder Singh on Monday approved the formulation of the "Punjab Self-Supporting Co-operative Rules, 2019" to facilitate the societies as independent, self-reliant and democratic business enterprises that are free from outside interference. The development will help achieve the objectives of the Punjab Self-Supporting Co-operative Societies Act 2006, said official spokesperson, adding that the same will come into effect from the date of notification in the Gazette of Punjab.

"The Rules application for registration of self-supporting cooperatives, for the conversion of a Primary Cooperative Society into a Self-Supporting Co-operative Society, and for registration of amendment of bye-laws of the Self-Supporting Cooperative Society," read an official statement. They further envisage the manner of division of the area of operation of a self-supporting Cooperative Society into zones for the purpose including the election of directors of the Board of the society and dispute resolution. (ANI)