The Government of Goa on February 27, 2024, issued the Goa Co-operative Societies (Fifth Amendment) Rules, 2024 to further amend the Goa Co-operative Societies Rules, 2003.
The following amendments have been stated:
For rule 134, the following rule shall be substituted, namely: —
“134. Fee and premium for transfer of shares or interest of the member. —
(1) A member whose application for transfer of shares and occupancy right in the plot of land/dwelling unit/commercial unit where the landed property is owned by the co-ownership or co-partnership housing society is accepted by the society, shall pay: —
(a) a fixed transfer fee of Rs. 2,000/- (Rupees two thousand only) to the society; and (b) an amount of premium to the society at the rate of up to 2% of the market value of such plot of land/housing unit/ /commercial unit as on the date of effecting transfer of share/interest.
(2) The society shall pay Rs. 10,000/- (Rupees ten thousand only) to the Government, out of the premium amount collected. The said amount of Rs. 10,000/- shall be deposited by the concerned society by way of e-challan directly into the Government Treasury within 15 days from the date of receipt of such amount from the member and e-receipt thereof shall be submitted to the Registrar.
(3) Any transfer of share or interest of the member approved by the society in contravention of sub-rule (1) and (2) shall be ab initio null and void.
(4) Where the society fails to deposit the amount in the Government Treasury as specified in sub-rule (2), such amount shall be recovered by the Registrar from the society, along with interest at the rate of four per cent as an arrears of land revenue, without prejudice to other mode of recovery.”.
They shall come into force on February 27, 2024.
[Notification No. 42/2/2001/TS/RCS(Suppl.)/Vol.I/4490]
