( 1) No Committee of Large Sized Multipurpose Co-operative Societies shall be superseded by the Registrar unless one of the following conditions exists - i. It incurs loss for three consecutive years, or
11. serious financial irregularities are identified. or
111. there are judicial directives to this effect or there is perpetual lack of quorum.
(2) No Committee of Large Sized Multipurpose Cooperative Societies shall be placed under supersession for more than six months.
(3) No Committee of the State Cooperative Bank or a Central Cooperative Bank shall be superseded without prior consultation with Reserve Bank.
144.No Society in Co-operative Credit Structure shall be directed by the State Government or otherwise required to contribute to any fund other than those for improving the net worth and owned fund of the society.
145. There shall not be any cadre system in Co-operative Credit Structure with effect from such date as may be notified by the State Government.