(PLO)- The State ensures an equal business and investment environment, recognizes and protects the ownership of assets, capital, income, and other lawful rights and interests of cooperative groups, cooperatives, and cooperative members. In line with this commitment, the Lok Sabha has recently referred the Multi-State Cooperative Societies (Amendment) Bill, 2022 to the Joint Committee on Multi-State Cooperative Societies for further examination and review.
The Multi-State Cooperative Societies (Amendment) Bill, 2022 aims to bring about necessary changes and improvements to the existing framework governing multi-state cooperative societies in India. The bill has been referred to
companies amendment bill 2022
The Multi-State Cooperative Societies (Amendment) Bill, 2022 has been introduced in the Lok Sabha with the objective of making amendments to the existing Multi-State Co-operative Societies Act, 2002. This bill emphasizes on ensuring an equal business and investment environment, recognizing and protecting the ownership of assets, capital, income, and other lawful rights and interests of cooperative groups, cooperatives, and cooperative members.
To further examine and review the provisions of this bill, the Lok Sabha has referred it to the Joint Committee on Multi-State Cooperative Societies. This committee will undertake a detailed examination of the proposed amendments and make recommendations for any necessary changes or improvements.
The specific amendments proposed in the Multi-State Cooperative Societies (Amendment) Bill, 2022 are not mentioned in the provided search results. However, it can be inferred that these amendments aim to enhance the regulatory framework governing multi-state cooperative societies in India, potentially addressing any existing gaps or shortcomings in the current legislation.
It is important to note that the provided search results include a link to the full text of the bill, which contains detailed information about the proposed amendments. It is recommended to review the contents of the bill for specific details about the proposed changes and improvements to the Multi-State Co-operative Societies Act, 2002.
Overall, the Multi-State Cooperative Societies (Amendment) Bill, 2022 reflects the commitment of the Indian government to create a favorable business and investment environment for cooperative groups, cooperatives, and cooperative members. Through this amendment, the government aims to strengthen the legal framework for multi-state cooperative societies and ensure the protection of their assets, capital, income, and other lawful rights and interests.
This article sheds light on the pressing need to address cross-ownership within cooperatives, unions of cooperatives, and their members. It emphasizes the importance of reducing and ultimately ending this practice, as it can undermine the democratic principles and autonomy of these organizations. By promoting transparency and individual empowerment, we can strengthen the cooperative movement and ensure a more equitable and sustainable future.
This article provides important insights on the significance of reducing and eventually eliminating cross-ownership in cooperatives, unions of cooperatives, and its impact on member welfare. Addressing this issue is crucial for enhancing transparency, preventing conflicts of interest, and strengthening the collective power of cooperatives.