September 29, 2020 | Investopaper
It will not be possible to become a member of two cooperatives of the same nature from Karthik 1, 2077. The Department of Cooperatives has decided to end double membership as per the provision in the Cooperatives Act, 2074 BS.
Sub-section 1 (a) of Section 32 of the Cooperatives Act, 2074 BS provides that no person can be a member of more than one cooperatives of the same nature at the local level. Provision has been made to maintain the membership of only one organization within three years of being a member of more than one cooperative before the commencement of the Act. According to the information issued by the Department of Cooperatives, as the Cooperatives Act, 2074 BS has been issued since Karthik 1, 2074 BS, the old members will not be allowed to be double members as they will complete three years in Ashwin end this year.
The department has issued a notice to end the membership of other cooperatives by maintaining the membership of only one cooperative of one’s choice. It has also instructed all the cooperatives to inform the concerned share members in case of double membership.
The details of cooperative members across the country are being updated through software. As soon as this work is completed, all the members will be asked to declare themselves. If the cooperatives disobey the directives, they will be punished for non-compliance with the cooperative laws. Under this, there is a provision of fine up to two lakh rupees.
At present, the total number of members in the cooperative is more than 6.5 million. Once the details are updated, it will be possible to know how many of them are dual members.