GENERAL KNOWLEDGE

Detailed explanation-1: -[1st March, 1912.] An Act to amend the Law relating to Co-operative Societies. (2) it extends to the whole of India except 2 [the territories which, immediately before the 1st November, 1956, were comprised in Part B States]. (iv) Madhya Pradesh by M.P.

Detailed explanation-2: –No member of a registered society shall exercise the rights of a member unless or until he has made such payment to the society in respect of membership or acquired such interest in the society, as may be prescribed by the rules or by-laws.

Detailed explanation-3: -The 1904 Cooperative Societies Act, was repealed by 1912 Cooperative Societies Act which provided for formation of Cooperative societies other than credit. Under 1919 Administrative Reforms, Cooperatives was made a provincial subject making each province responsible for Cooperative development.

Detailed explanation-4: -Features of a Cooperative Society – Spirit of Co-Operation, Voluntary Association, Capital Raising, Registration, Management of Affairs of Co-Operative and a Few Others. 1. Spirit of Co-Operation: “Service before self”, ‘Service’ is of primary importance and “Self Interest” is of secondary importance.