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PRESS RELEASES

 
Date: 2-Jul-2017  
Title: NAB's Prevention Committee for Reforms in Cooperative Department ICT

ISLAMABAD, July 02, 2017: On the directions of Mr. Qamar Zaman Chaudhry, Chairman NAB, NAB constituted a Prevention Committee for Reforms in Cooperative Department Islamabad Capital Territory (ICT) under Section 33-C of NAB Ordinance, 1999, comprising representatives of all stakeholders including representation from Cooperative Department Islamabad Capital Territory (ICT).
The NAB’s Prevention Committee for Reforms in Cooperative Department Islamabad Capital Territory (ICT) after due deliberations with all stakeholders, prepared a set of recommendations and presented to Mr. Qamar Zaman Chaudhry, Chairman NAB in a meeting held at NAB Headquarter. The Chairman NAB approved the proposed recommendations for onward submission to Ministry of Interior (MoI) for consideration/implementation of the recommendations made by NAB for further effective working of Cooperative Department, Islamabad Capital Territory (ICT) and to safeguard the investments of the general public as well as ensuring transparency in the affairs of Cooperative Department, Islamabad Capital Territory, ICT.
The Cooperative Department, Islamabad Capital Territory (ICT) appreciated NAB’s effectors for proposing effective and workable recommendations which were prepared by NAB’s Prevention Committee in consultation with all stakeholders for Reforms in Cooperative Department Islamabad Capital Territory (ICT) and it is very encouraging to note here that ICT through a Gazette Notification No. RCS/01-05 dated March 03, 2017 informed NAB that NAB’s recommendations have been included in the Gazette Notification No. RCS/01-05 dated March 03, 2017 and directed all Management Committees of Cooperative Housing Societies to implement these directions issued under Section 44-D and 44-E of the Cooperative Societies Act, 1925. Moreover, every cooperative society shall appoint a focal person from amongst its Managing Committee along with an officer of the society who shall be held personally liable for any lapse to this effect. The focal person shall also share the weekly progress report with Circle Registrar, Cooperative Societies Department, Islamabad. In case of non compliance, the Managing Committee of the Society shall be liable to be proceeded against jointly and severally under the penal provision of the Act. The recommendations of NAB’s Prevention Committee for Reforms in Cooperative Department, ICT which were incorporated in the Gazette Notification No. RCS/01-05 dated March 03, 2017 is as under:

Adherence to Municipal Byelaws
1. Every Cooperative Housing Society shall annually furnish details of plots including their allotment, creation, sub-division or amalgamation to the concerned Municipal/ Development Authority and endorsed copy to the every cooperative housing society shall annually furnish details of plots including their allotment, creation, sub-division or amalgamation to the concerned Municipal/ Development authority and shall endorse a copy to the circle Registrar, clearly certifying thereby that the society has not committed any violation of approved layout plan during the year.

2. Every cooperative housing society shall ensure strict adherence to the layout plan approved by the Municipal/development Authority and no transfer of share (s) or interest(s) of a member shall be approved unless it is certified by the society that no violation of layout plan has been committed by the transferor.

3. Every cooperative housing society shall obtain a certificate of “land audit” from the concerned Municipal/development authority on annual basis to ensure sanctity of layout plan.

4. No cooperative society shall issue any “allotment letter” or possession certificate to its members unless it has physical possession of the land against which such letter or certificate is to be issued.

5. No cooperative society shall change the size or location of any plot allotted to a member without seeking specific approval from the AGM.

6. Every cooperative society before submitting the minutes of AGM to the Registrar, shall obtain clearance from Municipal/Development Authority to the effect that no agenda item has been approved in violation of municipal byelaws. In case no response is received from the concerned Authority within 30 days, it shall be presumed that such Authority has no objection and minutes of AGM will be processed as per law.

7. No cooperative housing society shall launch a scheme or project unless it has possession of compact piece of land besides the title of minimum required land.

8. Every cooperative housing society shall obtain prior approval from the concerned Development/ Municipal Authority before advertising project/ scheme in the press.

9. Every cooperative housing society obtains a certificate of ‘an audit’ from the concerned Development/Municipal Authority on annual basis to ensure sanctity of layout plan.

(2) Timelines for Development
i. Every cooperative society shall ensure timely completion of its on-going project(s) and no new project or scheme shall be launched unless 70 percent development work has been completed on the ongoing project of such society.
ii. Every cooperative society shall complete its on-going project or scheme within five years, failing which liquidation proceedings may be initiated against such society under section 47 of the Cooperative Societies Act, 1925.
iii. no cooperative society shall transfer or utilize fund from head of account to pay another head of account of any project or scheme without the approval of the registrar.

(3) Creation of Funds
(a) Every cooperative Housing Society shall establish the “reserve Fund” specified in Sections 39 and 42 of Cooperative Societies Act , 1925 for public , cooperative and charitable purposed, Subject to the other provisions of the Act , the Fund may be utilized for the expenditure on repairs, maintenance and renewals of the society’s property and shall consist of
I. The amount out of the net profit, from year to year, subject to minimum of one percent of net profit for that year;
II. All admission fees received by society from its members.
III. All transfer fees received by the society from its member on transfer of shares, along with the occupancy rights and
IV. All donations received by the society except those received for a specific purpose;
(b) Every cooperative society shall establish a contributory “provident fund “ in accordance with section 41 of the Cooperative Societies Act 1925 for the benefit of its employees and the society in such a manner and subject to such conditions or restrictions , as may be prescribe by the Government for the benefit of the employees
(c) Every cooperative society shall provide gratuity to its employees on such terms and conditions as prescribe by the Government from time to time.

(4) Cooperation among Cooperatives
Every cooperative Housing Society shall take effective measures to promote cooperation among cooperatives in line with sixth cooperative principle and strengthen cooperatives by utilizing common resources to achieve common goals.

(5) Online Access to information
(a) Every cooperative society shall set up, at its own expense, a website and the Managing Committee will be responsible for making suitable arrangements for its regular maintenance, updating and ensuring that it runs securely, smoothly and uninterruptedly.
(b) The website will be accessible to all members of the society at all times. The society may, however, at its discretion, make the website open to the general public also, in case, access to any information is to be restricted and made available to the members only, then every member will be provided a separate username and password through which he can access the information.
(c) The following information regarding the Society, it managing Committee and membership will be displayed on the website.
I. Number and date of Registration of the Society along with Telephone Number of the Office of the Society
II. Byelaws of the Society along with directions/instructions issued by the Registrar from time to time
III. Annual and special audit reports for last three years
IV. Copy of approved Layout Plan clearly indicating seal and signatures of the approving authority
V. Minutes of Annual General Meeting held during the last three years and in the current year
VI. A list showing name, father’s name, residential address and cell phone numbers of all members of the Managing Commit and officers of the society along with the date from which they are holding office
VII. A membership list showing name , father’s/ name residential address, date of acquiring membership, mod of acquiring membership, seniority in the membership register and the plot/flat number allotted in respect of all persons who are members of the society as on the dat of updating of the website
VIII. A charity displaying complete information about members added or deleted and transfer of membership etc. during the year.
IX. Information about the purchase of land including the land available with the society, its location and area specifying cost of land and source from which land has been acquired
X. Details of members for purchase of land and development specifying amount of installment and due date by which payment is to be made and
XI. A list of defaulters along with amount outstanding.
(e) the information displayed on the website will be deemed to be correct as on the date of updating and president and General Secretary of the society shall be jointly responsible to ensure that all the information is displayed is authenticated and rectify errors or omissions if any.

(6) Audit of Cooperatives Housing Societies
Every cooperative society shall carry out the audit of its accounts through credible audit firms in accordance with audit guideline issued by Registrar Cooperative vide circular dated 15-8-2016.

(7) Transparency in Annual General Meetings (AGMs)
a) Every cooperative society shall spell out agenda items to be discussed in the Annual General Meetings (AGM) and shall ensure video recording of all the proceedings of AGM.
b) The quorum for the Annual General Meeting will be 1/3rd of the total members of the society. If quorum is not formed, meeting will be adjourned for three hours and if there is no quorum for adjourned meeting, it will be deemed that member are not interested, the meeting will be cancelled and shall be rescheduled within 15 days.

 

 


 

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