Union Home and Cooperation Minister Amit Shah will move the Multi-State Cooperative Societies (Amendment) Bill, 2022 further to amend the Multi-State Co-operative Societies Act, 2002 in Lok Sabha today (Monday).
As per the list of businesses issued by the Lok Sabha Secretariat reads, “Shri Amit Shah to move the Bill further to amend the Multi-State Co-operative Societies Act, 2002, as reported by the Joint Committee, be taken into consideration. Also to move that the Bill be passed”, it added.
The MSCS Amendment Bill was introduced in the Lok Sabha on December 7, 2022, and was referred to a Joint Parliamentary Committee of both the Houses on December 20, 2022. The notice of consideration and passing of the Bill, as reported by the Joint Committee has been given in the Lok Sabha on 22.03.2023.
The Union Cooperation Minister had also mentioned its passage in the monsoon session during the Cooperative Congress addressed by the Prime Minister recently in Delhi. The Joint Parliamentary Committee headed by the Lok Sabha MP Chandra Prakash Joshi in its report, accepted the majority of proposed amendments.
According to sources, the JPC did not agree with the NCUI, which represented before the JPC for the exclusive custody of the Education Fund. The Committee went ahead with the draft of the bill on the matter. The Bill provides that though NCUI would be the deciding body for spending money from this fund, its custody would rest with the government.
Besides, the JPC has decided to accept the amendment proposed on various points including Cooperative Election Authority, Cooperative Ombudsman, Cooperative Rehabilitation Fund etc.
The Govt claims that the Co-op Amendment Bill seeks to strengthen the governance, transparency and accountability in cooperative societies and reform their electoral process. It also seeks to improve the monitoring mechanism and ease of doing business for these entities.
It also allows state co-operative societies to merge into an existing multi-state co-operative society.
The bill entails that a prior government permission will be required for multi-state co-operative societies for the redemption of their shareholding which may go against autonomy enjoyed by co-operatives.