Date:10/08/2008 URL: http://www.thehindu.com/2008/08/10/stories/2008081054961000.htm

National

Cabinet nod for amendments to empower cooperatives

Special Correspondent

NEW DELHI: The Union Cabinet on Friday gave its clearance for moving amendments to the Constitution (106th Amendment) Bill, which pertains to cooperative society. The Bill has been pending in the Lok Sabha since 2006.

The Bill will empower cooperatives by inserting a new Article in Part IV of the Constitution, providing for their autonomous functioning, democratic control and professional management. It will also provide for audit by independent auditors or auditing firms out of a panel approved by the State government or an organisation authorised by it to do so.

The amendments will provide for conduct of free and fair elections to the cooperatives by an independent body and ensure that there are at least two women and one SC representative on the board of directors.

Chaired by Prime Minister Manmohan Singh, the Cabinet gave its nod for signing an MoU with Canada on cooperation in agriculture and allied sectors, and an MoU with the Netherlands in the fields of ports and maritime transport and logistics.

The meeting cleared signing of social security agreements with Germany and the Netherlands for Indian nationals working there on a short-term contract. Those working in Germany on contracts up to four years will not be required to pay social security contribution under the German law, provided they continue to make it in India. For those working in the Netherlands, a similar benefit will be available for contracts up to five years.