Guidelines

GUDELINES FOR THE PAYMENT OF ASSISTANCE TO VANITHA CO-OPERATIVE SOCIETIES BY WAY OF SUBSIDY AND SHARE CAPITAL CONTRIBUTION

 

These rules may be called “The guidelines governing assistance to Women Co-operative societies by way of subsidy and share capital on project basis”.

All Vanitha Co-operative societies under the administrative control of the Registrar of  Co-operative Societies are eligible for assistance under these Rules subject to the following conditions.

 

1. The society shall be the one selected for the assistance by the Registrar of  Co-operative societies on the basis of the recommendation of joint  registrar of each District.

 

2. The maximum assistance payable under this scheme will be limited to Rs. 20 lakhs on the basis of the project feasibility in the following pattern.

 SUBSIDY - 60%

 SHARE CAPITAL – 40%

 

3. The societies considered under this scheme should satisfy the following conditions.

 

(a)  The society shall have a minimum paid up share capital of Rs. 50,000/- from among its members.

 

(b)  The society shall have a full time paid Secretary/Chief Executive and an elected Managing Committee.

 

(c)  There should be adequate provisions in the Bye-laws of the society for state participation in the share capital of the society, and to held the proposed project.

 

(d)  There should not be any enquiry against the society and the society should be free from corrupt practices and should have no dues to Government.

 

(e)  The adult classification of the society should not be below ‘C’.

 

4. Application

 

The application for assistance under the scheme should be in form A (Part of the Rules) signed by Chief Executive, President and two Managing Committee members and also be recommended by the Joint Registrar (General) of the District and shall be supported by the following documents.

 

(a)  Resolution of the Board of Directors to apply for the assistance under this scheme for Subsidy and Share capital to implement the proposed project.

 

(b)  Resolution of the board of Directors agreeing to adhere to such terms and conditions, as Government/Registrar of Co-operative Societies may prescribed from time to time.

 

(c)  Certificate of Joint Registrar (General) t the effect that the society is free from corrupt practices.

 

(d)  A detailed Project report providing employment opportunities, income generating as well as feasible, should be submitted.

 

(e)  No dues certificate by the Joint Registrar (General) of the District concerned satisfy that there is no amount due to the Government by the society, in any form including Audit fee/ Audit cost.

 

(f)  Statement of financial assistance if any received previously and its utilization.

 

(g)  Copy of Bye-laws, copy of last Audit certificate and Tentative financial, statement as on date of application.

 

(h)  The application shall be recommended by the Joint Registrar, and the project report must be examined and submitted along with a feasibility certificate from the Joint Registrar  (General).

 

5. The project report will be scrutinized and assistance will be sanctioned by the Registrar of Co-operative Societies.

 

6. Every application for assistance under these Rules shall be submitted in form ‘A’ appended to these Rules, counter signed by the Joint registrar (General).

 

7. DRAWAL OF ASSISTANCE

 

(a)  The society receiving assistance under these rules shall executes a Bond in Rs.500/- stamp paper in favour of Government of kerala in form ‘8’ appended to these rules.

 

(b)  The Government/ Registrar of Co-operative Societies may sanction the  financial assistance to the society under these Rules, subject to the availability of funds and subject to the terms and conditions.

 

(c)  Registrar of Co-operative Societies may drawn the amount and transfer it to the Account of the society with the concerned branch of the District Co-operative Bank. The Institution shall not withdraw the amount or part of thereof, without prior permission of Registrar of Co-operative Societies with the recommendation of Joint Registrar (General).

 

8. UTILISATION

 

(a)  The assistance provided under the scheme shall be utilized only for the purpose for which it was sanctioned within a period of 4 months from the date of drawal of assistance and if the society falls to utilize the amount within the period, the entire amount shall be refunded to Government lump. If any diversion or mis-utilization, in proper utilization of the assistance, the Board of  Directors and Chief Executive will be personally liable to the effect.

 

(b)  The society shall not sell, transfer or dispose the assets purchased from the financial assistance availed under the scheme without the consent of the Government/registrar of Co-operative Societies / Joint Registrar (General) of the co operative societies of the concerned district.

 

(c)  The Joint Registrar (General) of the Co-operative societies of the concerned district shall maintain demand-Collection-Balance Register under the scheme and shall watch the utilization of the assistance, Retirement of share capital contribution and furnish the utilization certificates of assistance to the Accountant General, Kerala in due course, directly and submit a copy of the same to Registrar of Co-operative Societies.

 

9. REPAYMENT

 

(a)  The share capital contribution under this scheme shall be retired in ten annual installments, and the first installment will due from the 2^nd year from the actual date of drawal of the share capital contribution and the corresponding date during the succeeding years. In the event of default in repayment of the installments of share the society will be liable to pay penal interest @ 25% for the defaulted amounts.

 

(b)  The dividend on the share capital contribution of the Government shall be remitted in the Treasury within one month after the declaration of dividend by the General Body of the society.

 

10. The Government may by an order in writing exempt the Societies/Institutions from any of the provision of these rules.