Empanelment of Chartered Accountants - Panel of Arbitrators
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THE GAZETTE OF INDIA EXTRAORDINARY
THE GAZETTE OF INDIA EXTRAORDINARY MINISTRY OF AGRICULTURE (Department of Agriculture and Co-operation) NOTIFICATION New Delhi, the 24th February, 2003
S.O.216(E) - In exercise of the powers conferred by Sub-section(2) of Section 4 of the Multi-State Co-operative Societies Act, 2002 (39 of 2002), the Central Government hereby directs that the powers exercisable by the Central Registrar under Section 84 of the Act shall also be exercisable by Registrar of Co-operative Societies of the States/UTs in respect of the societies located in their respective jurisdiction, subject to the following guidelines and conditions, that :-
1. Such powers in relation to a National Co-operative Society shall not be exercisable by these officers.
2. The officers shall comply with the directions (other than court cases) as may be given by the Central Registrar, appointed under Sub-section (1) of Section 4 of this Act, from time to time.
3. Appointment of arbitrators by the State Registrar of co-operative societies shall be subject to following guidelines :
(a) In case of disputes relating to organizational and legal mattes, arbitrators should either be a practicing Advocate or retired member of Judicial/Civil Services or officers at least of the level of Deputy Registrar and above of co-operative department retired not more than two years prior to the date of appointment. (b) In case of disputes relating to financial and banking matters including recovery disputes, person having financial and accounting background like Chartered Accountants/ICWAs/retired bank officers (retired not earlier than two years) may also be considered for appointment in addition to the persons listed in clause 3(a).
4. The list of approved arbitrators shall be submitted to the Central Registrar within 15 days of approval. The updated list of all the approved arbitrators should be sent to the Central Registrar on quarterly basis.
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