The Government of Andhra Pradesh on August 09, 2023, issued a notification to amend the Andhra Pradesh Co-Operative Societies, 1964 to further amend the Andhra Pradesh Co-operative Societies Rules, 1964.
The following amendments have been stated:
• For sub-rule (3) of Rule 8, the following shall be substituted namely, -
Every notice under sub-rule (2) shall be sent to its members and creditors by registered post or personal delivery or by its publication in a local leading newspaper (district edition) and also its publication on the notice board of the society, gram panchayat/ Municipality, MPDO office and Tahsildar office."
• For Rule 15, the following shall be substituted, namely, -
"15 Restriction on holding shares: - Where the liability of a member of a society is limited by shares, no member, other than a society or the Government shall hold more than one-fifth of the share capital of the society.
Provided further that in the case of a Cooperative Urban Bank, the individual shareholding of a member shall not exceed One-twentieth of the total paid share capital of the Bank."
• After sub-rule (7) of Rule 28, the following shall be added, namely, -
“(8) The District Cooperative Marketing Societies are exempted from rule 28 (0) and may frame such bye-laws / special bye-laws of service regulations of the District Cooperative Marketing Societies and approved by the Registrar. Every paid servant and officer of that District Cooperative Marketing Society shall retire from service on attaining the age of 60 years."
• For sub-rule (15) of Rule 75, the following shall be substituted, namely, -
"(15) Committee for selection of Chief Executive Officers of Cooperative Central Banks & Andhra Pradesh State Cooperative Bank. - The Board of the bank shall select and appoint one among the empanelled candidates by the Common Selection Committee for the post of Chief Executive Officer of DCCBs and should also undertake a process of due diligence in respect of the person relying on the information obtained from him/her before an appointment.
o Committee for Selection of Chief Executive Officers of Cooperative Central Banks:
President of Andhra Pradesh State Cooperative Bank,
Managing Director of Andhra Pradesh State Cooperative Bank,
Registrar of Cooperative Societies of the State,
Chief General Manager/ Officer-in-charge of National Bank for Agriculture and Rural Development along with two subject experts.
o Committee for selection of Chief Executive Officers of Andhra Pradesh State Cooperative Bank:
President of Andhra Pradesh State Cooperative Bank; Principal Secretary, Finance Department; Principal Secretary, Agriculture & Cooperation Department
Chief General Manager/Officer-in-charge of National Bank for Agriculture and Rural Development and Professional Director of the Board of Andhra Pradesh State Cooperative Bank.
[Notification No. G.O.Ms.No.44]
