Interviewtimes 
As of today, the Revised Society Registration Act-2021 has come into force. According to the amended law, any non-governmental organization must be renewed every five years. Registration of companies that do not submit annual audit reports will also be revoked.
According to the Department of Revenue and Disaster Mitigation, the state government has amended the Society Registration Act-1860 to better manage and control the movement of societies at the state and district levels. The revised Registration (Odisha Amendment) Act-2021 has come into force across the state from today. The validity of the societies registered in the Society Act will be five years. The society has to be renewed every 5 years.
Societies with government members no longer need to renew their registration once they are registered. The budget of the society will be audited to make the societies accountable. The annual audit report with the balance sheet must be submitted to the Registrar of Cooperatives on behalf of the concerned society. However, for companies that have an average annual income of less than Rs 1 lakh over the past three years, it is not necessary to submit an annual audit report or balance sheet.
According to the amended law, a company registered under this Act cannot benefit its management members or ordinary members in any way financially or materially. Similarly, a company that does not submit its annual audit report with the balance sheet will have its registration revoked. In the event of any dispute within the Society, any member of the Society may file a petition in the Court of Senior Civil Judge of the area where the Society has its office. As a result of this much-anticipated revision of the law, the state government can enact rules for its better implementation.
