The Maharashtra government has amended the Maharashtra Cooperative Societies (MCS) Act, 1960 to allow the housing societies having less than 200 members to be able to hold elections in their annual general meeting every five years, reports DNA.
There would be no need to conduct them under the supervision of the election authority constituted by the cooperative department, the new amendment envisioned. The govt has also issued an ordinance to this effect.
Out of over one lakh cooperative housing societies in the state, 90% have less than 200 members. They will benefit from the proposed amendment. The government has proposed amendment to section 73(c)(b) to simplify the process.
The amendment also relates to the fact that the society’s MC will invite a fine of Rs 25,000 if it fails to submit the audit accounts and other mandatory documents to the state cooperatives department within the set deadline.