Co-operative Election Authority instituted to oversee secret-ballot board elections and strengthen electoral integrity and governance. Amendments revise definitions, registration criteria, governance and disclosures for multi-State co-operative societies; establish a statutory Co-operative Election Authority to conduct secret-ballot elections and a Co-operative Ombudsman for member complaints; require prudential norms for registration and transitional compliance with enforcement powers; introduce a Rehabilitation, Reconstruction and Development Fund and mandatory education contributions; tighten audit, accounting and appointment requirements including approved auditor panels and concurrent audits for large societies; enable electronic filing; and strengthen offences, penalties, inquiry and recovery powers, with detailed rule making authority for implementation.
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Co-operative Election Authority instituted to oversee secret-ballot board elections and strengthen electoral integrity and governance.
Amendments revise definitions, registration criteria, governance and disclosures for multi-State co-operative societies; establish a statutory Co-operative Election Authority to conduct secret-ballot elections and a Co-operative Ombudsman for member complaints; require prudential norms for registration and transitional compliance with enforcement powers; introduce a Rehabilitation, Reconstruction and Development Fund and mandatory education contributions; tighten audit, accounting and appointment requirements including approved auditor panels and concurrent audits for large societies; enable electronic filing; and strengthen offences, penalties, inquiry and recovery powers, with detailed rule making authority for implementation.
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