Miscellaneous provisions of association or society

Miscellaneous provisions of association or society

Restriction on the use of word cooperative (or translation thereof)

Any person, firm or organization, other than an association or society registered pursuant to this Act shall be entitled to carry on trade or business by adding the word cooperative (or its English translation) to its name.

Companies Act, 2021(1964)* not to apply

The Companies Act, 2021 (1964) shall not apply to the association or society registered under this Act.

Powers to frame Rules

(1) In order to implement the objectives of this Act, Government of Nepal may frame necessary Rules.

(2) Without prejudice to the generality of the powers conferred by Subsection (1), Rules may be framed particularly on the following matters:

(a) Prescription of the format of application for the registration of the association or society and of the certificate.

(b) Making provisions on the powers and procedures of the general meeting and extraordinary general meeting of the association or society.

(c) Provisions of the financial source of the association or society and mobilization thereof.

(d) Monitoring and supervisions of the association or society.

Repeal and saving

(1) The Common Association (Sajha Snastha) Act, 2041 (1984) is hereby repealed.

(2) Any association or society registered with the Common Association

(Sajha Snastha) Act, 2041 (1984) shall be deemed to have been registered

pursuant to this Act.

*The Companies Act, 2053 (1996), which has repealed the Companies Act, 2021(1964), has come into force on

2053.11.22 (5 March 1997).