The much-touted Multi-State Cooperative Societies (Amendment) Bill, 2022, is likely to be introduced for consideration and passing in the upcoming monsoon session of Parliament starting on 20th July to August 11, 2023. The bill aims to amend the Multi-State Cooperative Societies Act, 2022.
According to a tentative list released by the government stating the legislative business, there are 21 new Bills along other Bills which have already been introduced in the Lower House and referred to joint committees and their reports presented.
Besides MSCS Amendment Bill, there are many such as the Biological Diversity (Amendment) Bill, 2022; The Jan Vishwas (Amendment of Provisions) Bill, 2023; The Forest (Conservation) Amendment Bill, 2023; and The Mediation Bill, 2021 which are likely to be passed.
The MSCS Amendment Bill was introduced in the Lok Sabha on December 7, 2022, and was referred to a Joint Parliamentary Committee of both the Houses on December 20, 2022. The notice of consideration and passing of the Bill, as reported by the Joint Committee has been given in the Lok Sabha on 22.03.2023.
Union Cooperation Minister had also mentioned its passage in the monsoon session during the Cooperative Congress addressed by the Prime Minister recently in Delhi. The Joint Parliamentary Committee headed by the Lok Sabha MP Chandra Prakash Joshi in its report, accepted the majority of proposed amendments.
According to sources, the JPC did not agree with the NCUI, which represented before the JPC for the exclusive custody of the Education Fund. The Committee went ahead with the draft of the bill on the matter. The Bill provides that though NCUI would be the deciding body for spending money from this fund, its custody would rest with the government.
Besides, the JPC has decided to accept the amendment proposed on various points including Cooperative Election Authority, Cooperative Ombudsman, Cooperative Rehabilitation Fund etc.
The Govt claims that the Co-op Amendment Bill seeks to strengthen the governance, transparency and accountability in cooperative societies and reform their electoral process. It also seeks to improve the monitoring mechanism and ease of doing business for these entities.
It also allows state co-operative societies to merge into an existing multi-state co-operative society.
The bill entails that prior government permission will be required for multi-state co-operative societies for the redemption of their shareholding which may go against autonomy enjoyed by co-operatives.