<h1>Legislative Council rejects cooperative amendment bill after absences; debates liquidity rules, investment limits, audits, declaration burdens</h1> The Legislative Council defeated the cooperative amendment bill by 26 votes to 23 after absence of several ruling party members reduced support; the lower house had approved the bill two days earlier. During debate the Council chair heard objections from opposition members about provisions requiring cooperative societies to keep 20% of deposits in liquid form and to classify certain assets as statutory liquid assets, a requirement for registrar approval before investments in scheduled banks, proposed changes to the investments clause of the principal Act, practical difficulties in filing annual declarations, and shortening mandatory audit intervals from five to three years; the law minister defended the measures.