The Government of Lakshadweep on 19th September 2022, published the Lakshadweep Co-operative Societies Regulation, 2022 which deals with registration, incorporation and management of Co-operative Societies in the Union territory of Lakshadweep.
A society established for promotion of the economic interests or general welfare of its members, or of the public, in accordance with the co-operative principles or facilitating the operations of any such society may be registered under this Regulation:
Provided that no society shall be registered if it is likely to be economically unsound, or the registration of which may have an adverse effect upon any other society, or it is opposed to, or its working is likely to be in contravention of public policy or which may have an adverse effect on development of the co-operative movement, or the registration of which may be contrary to the policy directives which the Union territory Administration may, from time to time, issue.
A society may be registered with limited or unlimited liability and No federal society shall be registered, unless it has at least five societies as its members.
Further, No society with unlimited liability shall be registered, unless all persons forming the society reside in the same Island, or in the same group of Islands.
For the purposes of registration, an application shall be made to the Registrar in the prescribed form and shall be accompanied by four copies of the proposed bye-laws of the society and the person by whom, or on whose behalf, such application is made, shall furnish such information in regard to the society, as the Registrar may require.
On the registration of a society, the Registrar shall issue to it a certificate of registration signed by him within a period of fifteen days from the date of registration. A certificate of registration shall be conclusive evidence that the society therein mentioned is duly registered, unless it is proved that the registration has been cancelled.
