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TOPIC- TRUST
COOPERATIVES
GENERAL BODY
EXECUTIVE COMMITTEE

Trust

 Trust is a special form of organization
which emerges out of a will. The will
maker exclusively transfer the
ownership of a property to be used for
a particular purpose.
If the purpose is to benefits
particular individuals ,it become
private trust and if it is concerns
with common public or community at
large it called a public trust

 Private trusts are governed by the
Indian Trusts Act (1882) and are used
for private purposes, such as running
a private estate or institution. Privates
trusts are not given any tax benefits.
 If you want to do some charitable
work for public –you can set up a
public charitable trust. India does not
have a national level law to govern
charitable trusts. However, some of
the states have enacted Public
Charitable Trusts Act (Like Bombay
Public Trusts Act, 1950)

 Legislation : Different states in India have
different Trusts Acts in force, which govern
the trusts in the state; in the absence of a
Trusts Act in any particular state or territory
the general principles of the Indian Trusts Act
1882 are applied.
 Main Instrument : The main instrument of
any public charitable trust is the trust
deed, wherein the aims and objects and
mode of management (of the trust) should be
enshrined. In every trust deed, the minimum
and maximum number of trustees has to be
specified.

 The trust deed should clearly spell out the
aims and objects of the trust, how the trust
should be managed, how other trustees may
be appointed or removed, etc. The trust deed
should be signed by both the settlor/s and
trustee/s in the presence of two witnesses.
The trust deed should be executed on non-
judicial stamp paper, the value of which
would depend on the valuation of the trust
property.

 HOW TO REGISTER A TRUST
 Trusts are registered using a document called
TRUST DEED. This document contains all the
information about the trust and is
printed/written/typed on plain papers. With
these papers you would need to attach Rs.
100 Non-Judicial stamp paper. All the trustees
and witnesses will have to give thumb
impressions and signatures on these papers.
All in all, you will need help of a notary to
prepare the papers.

 You may also need a no-objection certificate
from the owner of the property where the
registered office of the trust is to be situated
 For registering a trust you need minimum
two trustees (i.e. one settler and another
person). You can decide maximum number of
trustees and it must be mentioned in the trust
deed. All the trustees together are called
Board of Trustees. This board collectively
governs the trust

 In case of trusts, all or some of the trustees
can be related persons (i.e. belonging to the
same family)
 All the trusts are allowed to work on all India
level
1. Trusts are irrevocable –unless it is
mentioned in the trust deed. This means
that the trust cannot be wound up
 Trust deed can be amended through a
supplementary trust deed

 Trustees are usually life-long members or
their tenure is specified in the deed. Electoral
process is not involved in the appointment of
trustees
 Board of Trustees can also have various
designations for trustees. Common
designations are Chairperson and Managing
Trustee
 Trustees cannot draw any remuneration from
the trust fund.
 Profits cannot be distributed among the
trustees

 At the time of registration, only the Settlor
and two witnesses are required to be
present in front of the Sub-registrar under
whose jurisdiction the registered office
address comes. Sub-registrar will check IDs
of these people. After that the trust deed
will go to the counter where data entry
takes place. In the end the Settlor and two
witnesses will be photographed. You will
need to pay 1100 rupees fee. Of this, Rs. 100
will be the registration fee and Rs. 1000 will
be the charges of keeping a copy of the
trust deed with the sub-registrar. This will
end the process.

 After the registration of trust, you shall get
the copy of the registration from the
Registrar and you shall apply for PAN
card, and you have to apply for proper
Income tax registration with Income tax
department
 After you have properly got the Income tax
certificate for the Trust (12A), you can also
apply for tax exemption certificates
 Trust should be registered with a "Registered
office address of the trust” with proper
landmarks

COOPERATIVES

 A cooperatives is an autonomous association
of person united voluntarily to meet their
common economic social and cultural needs
ad aspirations through a jointly owned and
democratically controlled enterprise
 Cooperatives as business enterprise posses
some basic interest such as ownership and
control but these interest are directly vested
in the hands of the user. Therefore they
follow certain values

 The values universally recognized as
cornerstones of cooperative behavior are self
help ,democracy, equality and solidarity
 Voluntary and open membership ,democratic
control ,economic participation, autonomy
,training, information and concern for
community are the ordinary features by
which the cooperation put their values in to
practice

 The first law on cooperatives came to force in
India in 1904 entitled the cooperative credit
societies act 1904
 The cooperative credit societies act 1904 was
followed by a number of supporting
legislation including the cooperatives
societies act 1912,which provided for the
information of non credit societies and
federal cooperative organizations.

 All societies must be formed under the
Cooperative Societies Act, 1912 or under the
relevant state cooperative laws.
 For formation of a cooperative society at
least 10 persons are required. They must have
the common objective to serve each other by
forming a society. They have to contribute
capital in form of share capital and decide to
take up any one or more activities. They form
a managing committee from and among the

members who looks after the management of
the society and implements the decisions of
the members. As our Constitution is wedded
to a socialistic pattern of society, it is a part of
the Government policy to promote and
encourage establishment of cooperative
societies.
Therefore, cooperative societies enjoy
several benefits provided by the Government
from time to time . But in order to get those
benefits the society must have to register
under the Cooperative Societies Act.

The procedure for registration

 Apply for registration of the association as
cooperative society in a prescribed proforma
available with the Registrar of Cooperative
Societies with requisite information like
 1) List of members, their individual addresses,
 (2) Name and objectives of the society for
which it has been formed,
 (3) Collection of funds - share capital or loan
fund with their utilization process,

 (4) Office bearers as managing committee
and their powers,
 (5) Admission and retirement of
members, and
 (6) Bye-law of the society.
On fulfillment of all the above requirements
the Registrar may issue a certificate of
Registration in favor of that society, which
elevates the status as Registered cooperative
society or corporate body.

EXECUTIVE COMMITTEE
 An executive committee is defined as group
of directors appointed to act on behalf of and
within the power granted to them by the
board of directors
 It consist of a chairperson, vice chairperson
,secretary and treasurer. It also include three
representative from the board
 The executive committee may with board
approval invite the chairperson and vice
chairperson to attend executive committee
meeting without a vote

Authority of executive committee
 The executive committee members have a
vital role to play if a club is to be sucessful
.The most important attribute for an
executive member to have enthusiasm and a
dedication to the club or society
President/Chairperson
The president is the principal leader of the
club and has a overall responsibility for the
clubs administration. The president is elected
by club members and there for representing a
view of members

 The president sets the overall annual
committee agenda, help the committee to
prioritize its goal and then keep the
committee on track by working within that
overall frame work
 At operational level major function of
president is to facsilitate executive
committee meetings

Secretary
 The secretary is the chief administration
officer of the club or society. The secretary
should organize the meeting ,times, dates
and book meeting rooms. Secretary should
prepare and issues agendas, supporting
papers and minutes of the previous meeting.
This secretary keep all club record and
maintain register of members, named
addresses and contact details.

Treasurer
 The treasurer is the chief financial manager of
the club or society. The treasurer bears the
weighty responsibility for all club monetary
transactions and financial records. The
treasurer should prepare the budget
demonstrating income and expenditure .The
treasurer authorize all cash transactions and
be accountable for its safe keeping

General Body

 The general body will include all the members
of the society. It include functional advisory
committee, executive committee and think
tank. The vice president shall be elected by
the general body meeting.
 The secretary,treasuree and the other
executive members will be elected by a
meeting of the general body for a period of
three years.

 The election will be by secret ballot as per
condition and procedure laid down in by laws
There shall be annual general body meeting
held once a year.
An extra ordinary general body
meeting shall be convened by the
secretary, on a decision of the councilor on
the requisition of at least 15 members
,preferably to coincide with one of the
conferences

How ever under exceptional circumstances such
a meeting can be convened at any time with
fortnight's notice to all members. In the case of
requisitioned meeting, if the number of
members present does not exceed the join
strength of the council and the requisition the
meeting shall stand dissolved.
Every general body meeting weather
annual, ordinary or extra ordinary shall be called
by at least 14 days notice in writing The notice
shall specify the date ,place and time of the
meeting

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Trust n cooperatives general body n exicutie committee

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