Bare Acts & Rules

Free Downloadable Formats

Hello Good People !

LaLas

THE .MDIfR!i PMDESH S I N G L E WINI)OW CO-OPERATlVE CMD'IT STRUCTURE AT STATE LEVEL

ACT, 1994ACT Mm. 14 OF 1994*.
123rd April, 1994.1

m1ACT
I

TO USHEK I N THE SINGLE WIhQOIJ COOPERATIVE CREDIT SYSTBI AT THE STATE

LEVEL AND TO I\W CONSEQUENTIAL MIENDIdENTS TO THE ANDHRA PKOESH CO-OPERATlVE SOCIET~ES ACT, 1954.

team of h i g h
. cooporativecreditdeliverysetuprecommended
study
rural
baereas a
constituted t o

the

l e v e l Offlcors
existing

R e c e i v e d the a s s e n t o f t h e Governor
1994. For Statement o f o b j e c t s
P i e a s e see Andhra Pradesh G a z e t t e , P a r t
ordinary, d a t e d t h e 2nd March, 1994

A?ril,

on the 16th
and Reasons,
IV-A, Extraa t Page 6.

t h e r e o r g a n i s a t i d n o f t h e ~ r i m a r y ~ g r i c u l t u r r a' l

Cooperative societies- and i n t e g r a t i o n o f

short term a r d locg term c r e d i t structures ;

n
whereas a Committee c o n s t i t u t e d
u n d e r t h e - Chairmanship -of t h e Additional
Secretary to Gov@rmient of 1 n d i i ; Ministry
of Agriculture recommended integration of
long term and short term c r e d i t s t r u c t u r e s
and suggested - t h e integration to be taken
at t h e district l e v e l in t h e first phase;

Arid ,whereas t h e Government of India in

consultation w i t h Reserve Bank of I n d i a
and National Bank for A g r i c u l t u r e a n d R u r a l
Development gave clearance i n the year
1986 to t h e State Government for iategration o f s h o r t term and long term cooperative c r e d i t s $ r u c t u r e s f o r implementation,
at the district level in the first phase;

And whersas t h e i n t e g r a t i o n of both the

s t r l ~ c t u r e shas accordingly been completed
p p t o district level in all aspects in the
year 1987;
And whereas at t h e S t a t e l e v e l t h e A n d h r a
Pradesh S t a t e C o o p e r a t i v e Bank and t h e
Andhra Pradesh C o o p e r a t i v e c e n t r a l Agricul. t u r d Development Bafik-are now functioning
as Apex level credit s t r u c t u r e s ;
A n d whereas it: is expedient, to merge
both t h e s r i d Banks at S t a t e level as a
l o g i c a l corollary a n d t c a c h i e v e t h e d e s i r e d
r e s u l t s to the full extent as e n v i s a g e d i
u n d ~ rthe S i n g l e Window-Cooperative Credit
S y s t m in t h e State;

And whereas the National Bank for Agriculture and Rurzl Development in consultation w i t h the Reserve Bank of India and
the Government of India communicated its
c o n s e n t f o r integration of t h e apex level
credit -agencies by merger. of t h e Andhra
Pradesh Cooperative Central A g r i c u l t u r a l

Development Bank with t h e Andhra P r z d e s h

S t a t e Cooperative Bank Limited;

Be it enacted by the Legislative Assembly

of t h e State of Andhra Pradesh i n t h e Fortyf i f t h Year of the Republic of I n d i a as

'

follows:1. 1 1 ) This Act may be called the Andhra short title

Pradesh Single Window Cooperative Crsdit
Structure at ,State l e v e l A c t , 1994.
nent

(2) I t s h a l l come i n t o force on such

date as t h e S t a t e Government may, by notification, published in t h e Andhra Pradesh
G a z e t t e , appoint.

.
,

2 . 11 ) W i t h efect o n and from t h e date Abolition of

appointed b y t h e Government u n d e r sub-set.-' central .Qri;
t i o n ( 2 1 of section 1, t h e Andhra Pradesh . d c u r ~
Central Cooperative A g r i c u 1 , t u r a l Develop- Development
ment Bank registered under Andhra Pradesh &&.
Cooperative Societies A c t . 1964 (hereinafter Act 7 of 1964.
in this s e c t i o n referred to as t h e ' s a i d
Bank') shall s t a n d abolishe6.
( 2 ) On such a b o l i t i o n of t h e said Bank
under sub-section I , - -

'

(a) all. properties, assets Including

all balances, rights, p r i v i l e g e s , b e n e f i t s ,
licences, powers, authorities and i n t e r e s t
vested in the said Bank s h a l l d e v o l v e Upon
the, Andhra Pradesh S t a t e C o o p e ~ a t i v eBank
Limited
(hereinafter
in t h i s section
referred to as the successor Bank);

(b)a l l c o n t r a c t s i n c l u d i n g g u a r a n t e e s ,
deeds,bondsF,debentures, agreements, powers
of attorney and o t h e r instruments of whatever nature executed by or in favour of
the said Bank and havingeffectimmediately
before its abolition shall be enforced and
e f f e c t e d zgainst or in favour of t h e
Successor Bank and may be acted upon a s
f u l l y and effectively as if t h e .successor
Bank is a party thereto;

( c I any suit, appeal or o t h e r l e g a l

proceeding of whatever n a t u r e bL or a g a i n s t
t h e said Bonk p ~ n d i n g on the dete orr' its
a b o l i t i o n s h a l l be prosecuted by or c o n t i n u e d . against t h e euccessor n m k ;

( d ) all. persons who arc members of

Ban!; on t h e date: of its abolition
shall be cieened to he the fi~embers of t h e
successcr Bzak and s h a l l c o n t i n u e to !;old
c f f i c e as s u c h o n l y so long as they would
have held office a s members of t h e said
B a n k had. it not been z b o l i s h e d :
t h e said

Provided that t h e i n s t i t u t i o n s and

bodies, other than t h e D i s t r i c t
Coclperative Central Ea!lks r ~ k o vere the
n o m i n a l members i n t h e s a i d Bank s h a l l .
c o n t i n u e to be the n c n i n a l members of t h e
successsr Bank w i t k i o c t a right to v o t e ;
corpcrate

(e) t h e successor Eank shall exercise

the p;vers and discharge t h e functions o f
a l l long tErm, medium te-m and short term
2cricultur31 credit and a l l i e d function:
such as t h e bonking f u n c t i o n s ;
( E ) e l l 'the er.!plcyees of the said Bank
s h a l l be LransFcr-red to and s h a l L b e deemed.
to be t h e e m p l o y ~ c sof t h e Successor Bank:

r o v i d e c i t h a t tIlc s t a f f -50 transferred

shall c o - n t i n u ~to he governed - b y t h e resp e c t i v e s e r v i c e r e g u l a t i o n s zpplicable to
then i m m ~ 6 . i a t e l y bef re such transfer
until new service r e g u l a t i o n s a r e framed
by the successor Bank with t h e a p p r o v a l of
.>-he Cornmissionerr :of C o o p e r a t i o n and
Registrar of Cooperetive Societies:
P r o v i d e d f q ~ r t h e rthat t h e s e r v i c e
rendered by t h e staff so trafisferred in
t h e said r s n k upto i t s a b o l i t i o n s h a l l be
d e ~ m e dko be t h e service u n c l e r t 3 e successor,
Sank 2nd they s h a l l be e n t i t l r d to count
t h a t service f o r a11 purposes including

iricremeilts,
gratuity :

leave.

provident

fund

and

Provided also t h a t t h e i r e x i s k i n g terms

and c o n d i - t i o n s of s e r v i c e s h a l l n o t be
v a r i e d Lo t h e i r d i s a d v a n t a g e .
( 3 ) 'Phe i n t e g r a t i o n of the services of
t h e employees of t h e said s a n k w i t h t11e
e m p l o y d e ~ of the successor Bank shall be
e f f e c t e d in accordancs w j . t h such p r i n c i p l e s
as may be prescribed by rule5 f r a ~ n e d i n
this beha1.f by 'the G a v e r n n r e n t subject to
the provisions of clause ( f ) ef' SSIJ-SECtion ( 2 ) .

ti!)

R e g i s t ~ s r s h a l l cause a l l
amendments to t h e Eye-Laws
'and r e g u l a t i o n s of t h e Successor Bznk to
!>e made to c a r r y o u t the p u r p o s e s of this
section.
The

'c q n s e q u a n t i a l

3 . ( 1 1 T h r o c g h o u t t h e Andhl-a Fradesh l m c n d m c n t of
C a o p e r a t i v e S o c i e r i e s A c t , 1964 I h e r e i n - h c r 7 of 1 9 6 4 .
a f t e r r e f e r r e d to a s :he p r i r r z i p a l A c t ) ,
f o r t h e y r ~ r d "Central
s
2 q r i c u l t u r a l Deveispn e n t B a n k " w h e r e v e r t h e y occur, t h e wo.rds
" T h e kndhra P r z J e s h S t a t e Coopera L i v e 3 a r ~ k
L i m i t e d " s h a l l be s u b s t i t u t e d .
b

( 2 1 Xrl s e c t i a n 8 4 of t ! i e p r l ncipai A c t ,
c l a u s e (h) s h a l l be o r n i l t ~ d

4 . T!le p r o v i s i ~ n sof t l l 3 . 5 Act shell h a v e her y o overeffect ~ o t h v i t h s t a n d i n qar~:,i:hl.r~gc o i l t a i n o 5 r i d c 01-her .

i n t h e A:ldhr? P r z d o s h C o o p e r 2 t i v e S u c l c t i c 5 1 2 ~ s .
Act, 1961 or ir! any o t h e r 12;: f cr t h e time A C E 7 of 1964.
b e i n g in f orcc.

K . slmlt.nrlnr<n;innr.. bjURVl'[lY,
S e c r e t a r y to G o v e r a m c n t ,
Lcqisla t i v a htfairs,
L z i t U c p d r t m s n t- .