(1) A co-operative society may make by-laws for carrying out its functions under this Act or the rules and such by-laws shall not be valid unless they have been registered under sub-section (1) of section 15.
(2) A co-operative society may amend its by-laws from time to time but no such amendment shall be valid unless it is registered under subsection (3) of this section.
(3) Every proposal for amendment of by-laws of a co-operative society shall be forwarded to the Registrar. If the Registrar is satisfied that the proposed amendment is not inconsistent with the provisions of this Act or the rules, he shall, unless for reasons to be recorded in writing he thinks fit to refuse, register the amendment within three months or, if it relates to a co-operative housing society or an industrial co-operative society not entirely composed of rural artisans, within four months from the date of its receipt and forward a copy thereof together with a certificate in the prescribed form, and such certificate shall be the conclusive evidence that the amendment has been duly registered under this Act:
Provided that the Registrar shall not refuse to register any amendment of by-laws without giving the co-operative society an opportunity of making representation in the prescribed manner.
(4) If the Registrar refuses to register any amendment of by-laws, he shall communicate the order of refusal with reasons therefor within three months or, in the case of a co-operative housing society or an industrial co-operative society not entirely composed of rural artisans, within four months from the date of receipt of the amendment to the co-operative society in the prescribed manner.
(5) If any amendment of by-laws proposed by a co-operative society is refused by the Registrar under sub-section (4), the co-operative society may make an appeal against the decision of the Registrar to the Cooperative Registration Council, within one month from the date of receipt of the decision of the Registrar. The decision of the Registration Council concerned shall be final in this regard.