The latest amendments to the Kerala Co-operative Societies (Amendment) Bill will give a new direction to the cooperative sector, closing the loopholes for irregularities that has plagued the sector, Minister for Cooperation V.N.Vasavan has said.
The Assembly passed the third amendment bill, which has 56 amendments, unanimously.
He said on Friday that one of the major amendments has been in fixing the term limits for office bearers. Though some efficient administrators had aided in the growth of societies over successive terms, it has been noticed that irregularities are more common in groups in which the same persons have been in charge for a long period. As per the amendment, the term of the governing body in credit societies has now been limited to three terms.
