Bill to Amend Maharashtra Cooperative Societies Act of 1960 got passed and got gazzetted on 20.06.2019
Salient features of New Housing Chapter in MCS Act 1960.
1. Elections to the housing societies for less than 250 members to be conducted internally by the society
2. Concept of new members like Joint and provisional members introduced
3. Concept of Coop Hsg Association introduced to facilitate the formation of association of less than 5 societies for conveyance or Deemed conveyance matters .
4. Penalty of Rs.5000 max on Management committee introduced for not allowing inspections of certain documents u/s 32.
5.Scope of Sec.32 in inspection of documents widened .
6.Role of Housing federations widened .
7. HUF is specially included as person in the definition which was not included earlier .
8. Defaulter is specifically defined now in the Act itself.
9.Transfer or Transmission of shares to be effective only if the Dues are paid* to the society.
10. Various terms like Allottee, Promoter, Dues, Corpus Fund, Tenant Co-partnership etc.are specifically defined now.
11.Associate member to have right to vote and contest* the Elections *subject to* authority from Original member
12.The reserved posts if vacant then these vacant posts will not be counted for deciding the strength of the managing committee for the purpose of the quoram for the meeting.
13. A member , if he/she carries on business of letting, subletting and selling of flats*
in the housing society of which he is a Member, then he is *not eligible to contest* the elections.
14. Slight Amendments in section related to Investments of funds*
15. Wordings of Sec.101 changed to include dues for Repairs , construction cost under clause 154B-29
CA Shilpa Shinagare
9820053395/53495
ssca28@rediffmail.com
Member of Hsg Chapter Committee of Ministry of Coop .MH
