No society in the Co-operative Credit Structure shall be exempted under Section 121 of the principal Act in any manner from the application of 12 the provisions of this chapter without prior consultation with the Reserve Bank or the National Bank."
19. Amendment of Section 100.- In Section 100 of the Principal Act, in sub-section (3), in the explanation,
(1) in item (ii), the words "as may be prescribed by the Registrar" shall be omitted.
(2) for item (iii), the following shall be substituted, namely:- "(iii) "seasonal finance" shall mean the advancing of loans for the purposes enumerated in item (ii) above, such loans being repayable on or before the 31st March following or such other date as may be specified by the financing bank or the credit agency."
20. Amendment of Section 111.- In Section 111 of the Principal Act, for sub-section (2), the following shall be substituted, namely.- "(2) No prosecution shall be instituted under this Act without the previous sanction of,-
(a) the Director of Co-operative Audit in respect of matters arising out of audit other than matters relating to co-operative credit structure society;
(b) the Registrar in respect of all other matters including matters relating to audit in respect of cooperative credit structure society."
21. Omission of Section 128A.- Section 128A of the Principal Act shall be omitted.
22. Power to remove difficulty.- (1) If any difficulty arises in giving effect to the provisions of the Principal Act as amended by this Ordinance, the State Government may, by notification in the Official Gazette, make such provisions as appears to it to be necessary or expedient for removing the difficulty:
Provided that no such notification shall be issued under this section after the expiry of two years from the date of commencement of the relevant provision under the Karnataka Co-operative Societies (Amendment) Ordinance, 2009.
(2) Every notification issued under this section shall, as soon as may be, after it is made, be laid before the State Legislature.
H.R. BHARDWAJ GOVERNOR OF KARNATAKA By order and in the name of the Governor of Karnataka G.K.BOREGOWDA Secretary to Government Department of Parliamentary Affairs and Legislation.
À̧PÁðj ªÀÄÄzÀæuÁ®AiÀÄ, «PÁ À̧ ¸ËzsÀ WÀlPÀ, É̈AUÀ¼ÀÆgÀÄ. (¦3)
98M.Contribution to any fund.- The Registrar shall have no powers to direct any �co-operative society in Co-operative Credit Structure to contribute to any funds other than those required for improving its net worth or own funds.
98U.Special audit of Co-operative Credit Structure.- The Director of Co-operative Audit shall arrange to conduct the special audit of the State Cooperative Bank or Central Co-operative Banks on the request of the Reserve Bank in the manner and form stipu
98V. Restriction for using the word 'Bank'. - No primary agricultural credit society or its federation or association shall, except those which are permitted to act as a Bank under the Banking Regulation Act, 1949 (Central Act 10 of 1949), be registere