Issues & Replies of Society members(registration)

What are the duties of the Chief Promoter?

Ans. (1) The Chief Promoter has to make an application for reservation of the name for the proposed society in the prescribed from.

         (2) He has to complete the registration formalities in respect of which the name has been reserved, within 3 months for the proposed society.

        

               However if he cannot complete the formalities he can apply for extension of one month.

         (3) He must open a saving account in the name of the proposed society.

         (4) He should collect share capital entrance fees, cost of purchase of land/building and other incidental expenses and deposit them in the same bank.

         (5) The chief promoter has to issue receipts in the name of the proposed society.

What steps are to be taken if the builder does not form a Society?

Ans. As per Section 10 of the MOF ACT the Promoter has to take steps for formation of Co-operative Society. If he fails, first the purchasers must write a letter to the builder indicating the intention to from a society. If builders refuse to extend their co-operation in formulating registration proposals, the form of affidavit and letter must be given too the Deputy/Assistant Registrar of Co-operative Societies in lieu of an undertaking by builder as contained in the ‘Z’ From.

The building has been occupied in 1976. Neither the flats nor the society is registered so far. How to proceed?

Ans.  All the flat owners should pay the Stamp Duty on their agreement, get the same registered and thereafter they and go for registration of society after getting 60% or 10 flats whichever is more of flat owners’ agreement registered.