Explain the five powers of the Registrar of Cooperatives.
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ChatGPT
3 hours ago
The Registrar of Cooperatives is a government official responsible for overseeing and regulating cooperative societies in a particular jurisdiction. The five powers of the Registrar of Cooperatives are as follows:
1. Registration: The Registrar has the power to register new cooperative societies and issue them with a certificate of registration. This ensures that the cooperative is recognized as a legal entity and can operate within the jurisdiction.
2. Supervision: The Registrar has the authority to supervise the activities of cooperative societies to ensure they are operating in accordance with the law and their governing documents. This includes conducting inspections, audits, and investigations as necessary.
3. Compliance: The Registrar has the power to enforce compliance with the Cooperative Societies Act and other relevant laws and regulations. This includes ensuring that cooperatives submit their annual reports, hold regular general meetings, and comply with any other legal requirements.
4. Dissolution: The Registrar has the authority to dissolve a cooperative society if it is found to be operating unlawfully or in violation of its governing documents. This power is typically used as a last resort after other measures have been taken to address the issues.
5. Arbitration: The Registrar has the power to arbitrate disputes between members of a cooperative society or between the cooperative and external parties. This helps to resolve conflicts and maintain the stability and integrity of the cooperative sector.
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Google Gemini AI
3 hours ago
Five Powers of the Registrar of Cooperatives:
1. Registration and Cancellation: - Registers cooperative societies in accordance with the Cooperative Societies Act and Rules. - Suspends or cancels registrations for non-compliance or irregularities.
2. Audit and Inspection: - Conducts audits and inspections of cooperatives to ensure financial soundness and compliance with regulations. - Orders special audits in case of suspected irregularities or fraud.
3. Supervision and Guidance: - Provides guidance and advice to cooperatives on legal, financial, and operational matters. - Conducts training and workshops to enhance the capacity of cooperatives.
4. Dispute Resolution: - Mediates and resolves disputes between cooperatives, their members, and other stakeholders. - Appoints arbitrators or conciliators to facilitate the resolution process.
5. Enforcement and Regulation: - Enforces the Cooperative Societies Act and Rules through disciplinary action. - Imposes penalties or sanctions for violations, such as non-submission of accounts or improper use of funds.