Multi State Cooperative Societies Act
The Multi State Cooperative Societies Act of 2002 consolidates and makes changes to the laws concerning cooperative societies. Its purpose is to enable the incorporation, functioning and organization of the cooperative societies that operates from more than one state. It ensures voluntary formation and proper operation of the Multi State Cooperative Societies that are based on self-help and mutual aid.
Union Cooperation Minister recently announced that the Central Government will bring changes the MSCS Act. He also announced that the government will be unveiling a new policy for the cooperatives. The Central Government had formed the Ministry of Cooperation on July 5 this year to provide a separate administrative, legal and policy framework for strengthening the country’s cooperative movement.