SCHEDULE - 02 (PART- 3) - Amendment of section 67 of Act 39 of 2002. - Banning of Unregulated Deposit Schemes Act, 2019

PART III AMENDMENT TO THE MULTI-STATE CO-OPERATIVE SOCIETIES ACT, 2002 Amendment of section 67 of Act 39 of 2002. In the Multi-State Co-operative Societies Act, 2002 (39 of 2002), in section 67, in sub-section (1),- (a) after the words receive deposits , the words from its voting members shall be inserted; (b) the following Explanation shall be inserted, namely:- Explanation. -For the removal of doubts, it is hereby clarified that a multi-State co-operative society shall not be entitled to receive deposits from persons other than voting members. .