| Salient Features Of Karnataka Souharda Sahakari Act, 1997 |
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Wholly owned, managed and controlled by members. |
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Removes all kinds of restrictions that have come to clog the free functioning of the co-operatives and the controls the interference by the Government except registration and cancellation. |
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Formation of Co-operatives on the basis of self-help and mutual aid. |
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Economic Enterprise guided by Co-operative Principles. |
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More responsibility and freedom of business for the Co-operatives. |
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Encourage Co-operatives to become more competitive and independent. |
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Inclusion of internationally accepted Co-operative Principles in the Act. |
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Promotes subsidiary organizations, partnership between co-operatives and also collaboration between co-operatives and other institutions. |
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Allows any 5 or more Souharda Co-operatives to form Union Co-operatives. |
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Powers of inspection, liquidation and supersession vests with the Federal Co-operative, which has a representation from all revenue districts. |
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No restrictions on business with a non-member. |
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Audit of accounts by the Panel of Auditors made by the Federal Co-operative instead of the Co-operative Audit Department. |
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Member Responsibility includes minimum business with the co-operative and participation in the general body. |
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The General Body is the final authority with regard to the recruitment of staff, pay-scale fixation, promotions, increments etc. |
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The General Body is the Highest Appeal for a person who has been denied or removed of the membership by the Board. |
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Inquiry will be conducted by the Registrar only on receipt of an application from not less than 1/3 of the members of the Board or not less than 1/10 of the total number of members of the co-operative or Federal cooperative with prescribed fee. |
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Continuation of the Arbitration System to resolve and settle the disputes with the members. |
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General Body has the final say regarding the winding up of the Co-operative or Cancellation of registration under the Act. |
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Provision to enroll Associate and nominal members. |