Panaji: With the functioning of cooperative societies in the state badly hampered during the ongoing lockdown, the government on Tuesday granted several relaxations to the societies for complying with annual statutory requirements.

Vide a circular that comes in force with immediate effect, cooperative societies have been granted extension in timeline for holding the general body meeting, auditing of accounts and filing of returns.

Other than extension in deadline, cooperative societies have also been granted relief by way of transferring some of the powers previously vested with the general body to the board of directors.

The circular is applicable for all types of cooperative societies. It is issued by the office of the Registrar of Cooperative Societies and signed by Vikas S N Gaunekar, registrar. The circular will remain in force until December 31 2020.

As per the circular, since cooperative societies are unable to hold the general body meeting due to social distancing norms, the board of directors can appoint the auditor under the condition that the board members take post facto approval of the general body at the earliest.

The deadline for holding the general body meeting is extended to on or before December 31, 2020. Further cooperative societies have time until December 31 for auditing of accounts. “Returns to be filed under section 81 of the Cooperative Act have to be done before December 31”, says the circular.

“The government has decided to exempt cooperative societies from the restrictions of time limit specified in certain sections of the Cooperative Act,” said Gaunekar.

The circular says that due to COVID-19 lockdown imposed from March 22 in the state, “the societies are not in a position to comply with the statutory requirements within the time frame assigned under the Goa Cooperative Societies Act 2001. Further societies are unable to convene the general body meetings.”