Amendment of section 2.

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....:-- '(32) "co-operative society" means a co-operative society registered under the Co-operative Societies Act, 1912 (2 of 1912.), or the Multi-State Co-operative Societies Act, 2002 (39 of 2002.), or under any other law in force in any State or Union territory for the registration of co-operative societies;'; (b) in clause (40),-- (A) sub-clause (f) shall be omitted; (B) in the f....

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....be substituted, namely:-- '(II) "group entity" shall have the same meaning as assigned to the expression "group entities" in clause (m) of sub-regulation (1) of regulation 2 of the International Financial Services Authority (Payment Services) Regulations, 2024 made under the International Financial Services Centres Authority Act, 2019 (50 of 2019.); (III) "parent entity" or "prin....

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....ly provided in the said clause. It is proposed to amend the said clause so as to include the co-operative societies registered under the Multi-State Co-operative Societies Act, 2002, within the scope of the definition of the expression "co-operative society". Clause (40) of the said section, inter alia, provides the definition of the expression "dividend". It is further proposed to omit s....