Press Information Bureau

Government of India

Ministry of Corporate Affairs

08-December-2011 17:47 IST

Non-corporate business entities and Societies are governed by the Law under which they are registered or incorporate. Each such law has suitable provisions concerning disclosure and accountability etc.

The Societies Registration Act, 1860 through a Central Act, is administered by the respective State Governments.

The Minister of State for Ministry of Corporate Affairs Shri R.P.N. Singh gave this information in a written reply to a question whether there is any regulatory framework is available with the Government in order enforce transparency and public accountability in business activities of Non-corporate business entities and Societies in Lok Sabha today.

ST/bs

Transparency and accountability for societies derive from registration laws and state administration of disclosure duties. Non-corporate entities and societies are governed by their registration statutes, which typically include provisions on disclosure and accountability; the Societies Registration Act, 1860 is a central enactment administered and enforced by the respective State Governments, so oversight and enforcement occur at the state level rather than through a single central regulatory code.