NLCF the apex body of labor cooperatives in the country discussed and approved a few amendments in the bye laws in its 41st AGM held recently in New Delhi. Earlier, the board of Directors of the apex body had decided to amend the bye laws in its last meeting in April this year.
According to the proposed amendments, the state federation, district federation, District Union of Labour Contract, Construction, Forest Labour Cooperative, Primary level labour contract societies having work execution of Rs 5 lakhs during each of preceding one year will be eligible for membership. Earlier the societies having work execution of Rs 10 lakhs during each of the preceding two years will be eligible for membership, announced its Managing Director Pratibha Ahuja before the delegates.
The payment fee of nominal member or associated member has been raised to Rs 2,000 which is a paltry Rs 100 in the existing bye laws. The increase in the payment fee is expected to yield the apex body additional financial resources.
With regard to receiving more funds on account of Share Capital and strengthening the financial position of NLCF, authorized share capital shall be Rs 50 crore which shall comprise of Rs 10 lakhs shares of face value of Rs 100 each. According to the existing bye laws the NLCF authorized share capital shall be Rs 2 crore which shall comprise of Rs 2 lakh shares of face value of Rs 100 each.
The NLCF board has made several changes in the management of the society to increase representation as per the Multi State Cooperative Societies Act and Rule 2002.
According to the proposed bye- laws, the labour contract societies will elect 10 Directors while the forest labour cooperative societies shall elect 5 directors from amongst themselves out of which one must be a representative of the primary level society in each of two constituencies and one for SC/ST/VGNT/OBC/ economic background two for women representing either labour contract cooperative or forest labour cooperative constituencies not more than one representative from any state may be elected except reserve categories.
The labour contract societies will elect 7 Directors while the forest labour cooperative societies shall elect 4 directors from amongst themselves out of which one must be a representative of the primary level society in each of the two constituencies provided that each of that constituencies not more than one representative from any state may be elected, according to the existing bye laws said Ahuja in her remarks.
