The Multi-State Cooperative Societies (Amendment) Bill, 2023, which seeks to strengthen cooperatives by making them transparent and introduces a system of regular elections was passed by the Lok Sabha on Tuesday amid din.
Introducing the Bill, Union Cooperative Minister Amit Shah said the provisions in the Bill would initiate a new era for the sector, which has been ignored by the previous governments.
Mr. Shah said that the Bill seeks to reform the composition of the Board of multi-State co-operative societies, establishment of ‘Co-operative Election Authority’ which shall consist of a chairperson, vice-chairperson and members of the Union government alongside rehabilitation, reconstruction and development fund for the revival of “sick multi-State co-operative societies”.
He said an independent body on the lines of the Election Commission will conduct elections in cooperatives which will reduce the interference of government. He added that the board will have to compulsorily meet every three months.
Union Home Minister Amit Shah informed the house that the Bill would impart more transparency to the composition of the board. He added that the elections laws provisioned in the Bill is at par with those of the Election Commission.
