The Andhra Pradesh Single Window Co-operative Credit Structure at State Level Act, 1994.

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THE ANDHRA PRADESH SINGLE WINDOW CO-OPERATIVE CREDIT
STRUCTURE AT STATE LEVEL ACT, 1994
(ACT No. 14 OF 1994)
ARRANGEMENT OF SECTIONS
SECTIONS
1. Short title and commencement
2. Abolition of Central Agricultural Development Bank
3. Amendment of Act 7 of 1964
4. Act to override other laws
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ANDHRA PRADESH SINGLE WINDOW CO-OPERATIVE CREDIT
STRUCTURE AT STATE LEVEL ACT, 1994
(ACT No. 14 OF 1994)
[23rd  April,1994]
AN ACT TO USHER IN THE SINGLE WINDOW CO-OPERATIVE CREDIT
SYSTEM AT THE STATE LEVEL AND TO MAKE CONSEQUENTIAL
AMENDMENTS TO THE ANDHRA PRADESH CO-OPERATIVE
SOCIETIES ACT, 1964.
Whereas a team of high level Officers constituted to study the existing
rural co-operative credit delivery setup recommended the reorganisation of the
Primary Agricultural Co-operative Societies and integration of short term and
long term credit structures;
And whereas a Committee constituted under the Chairmanship of the
Additional Secretary to Government of India, Ministry of Agriculture
recommended integration of long term and short term credit structures and
suggested the integration to be taken at the district level in the first phase;
And whereas the Government of India in consultation with Reserve Bank
of India and National  Bank for Agriculture  and Rural Development gave
clearance in the Year 1986 to the State Government for  integration of Short
term  and Long term  Co-operative  Credit Structures  for implementation at
the District  level in the first phase;
And whereas the integration of both the structures has accordingly been
completed upto district level in all aspects in the year 1987;
And whereas at the State level the Andhra Pradesh State Co-operative
Bank and the Andhra Pradesh Co-operative Central Agricultural Development
Bank are now functioning as Apex level credit structures;
And whereas it is expedient to merge both the said Banks at the State
level as a logical corollary and to achieve the desired results to the full extent
as envisaged under the Single Window Co-operative Credit system in the State;
And whereas the National Bank for Agriculture and Rural Development
in consultation with the Reserve Bank of India and the Government of India
communicated its consent for integration of the Apex level credit agencies by
merger of the Andhra Pradesh Co-operative Central Agricultural Development
Bank with the Andhra Pradesh State Co-operative Bank Limited;
Be it enacted by the Legislative Assembly of the State of Andhra Pradesh
in the Forty-fifth Year of the Republic of India as follows:
1. Short title and commencement - (1) This Act may be called the Andhra
Pradesh Single Window Co-operative Credit Structure at State Level Act, 1994.
(2) It shall come into force on such date as the State Government may, by
notification, published in the Andhra Pradesh Gazette, appoint.
2. Abolition of Central Agricultural Development Bank - (1) With effect on
and from the date appointed by the Government under sub-section (2) of
Section 1, the Andhra Pradesh Central Co-operative Agricultural Development
Bank registered under Andhra Pradesh Co-operative Societies Act, 1964(Act 7
of 1964) (hereinafter in this section referred to as the 'said bank') shall stand
abolished.
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(2) On such abolition of the said Bank under sub-section (1), -
(a) all properties, assets including all balances, rights, privileges,
benefits, licences, powers, authorities and interest vested in the said
Bank shall devolve upon the Andhra Pradesh State Co-operative
Bank Limited (hereinafter in this section referred to as the Successor
Bank);
(b) all contracts including guarantees, deeds, bonds, debentures,
agreements, powers of attorney and other instruments of whatever
nature executed by or in favour of the said Bank and having effect
immediately before its abolition shall be enforced and effected against
or in favour of the Successor Bank and may be acted upon as fully
and effectively as if the Successor Bank is a party thereto;
(c) any suit, appeal or other legal proceeding of whatever nature by or
against the said Bank pending on the date of its abolition shall be
prosecuted by or continued against the Successor Bank;
(d) all persons who are members of the said Bank on the date of its
abolition shall be deemed to be the matters of the Successor Bank
and shall continue to hold office as such only so long as they would
have held office as members of the said Bank had it not been
abolished:
 Provided that the institutions and corporate bodies, other than the
District Co-operative Central Banks who were the nominal members
in the said Bank shall continue to be the nominal members of the
Successor Bank without a right to vote;
(e) the Successor Bank shall exercise the power and discharge the
functions of all long term, medium term and short term agricultural
credit and allied functions such as the banking functions;
(f) all the employees of the said Bank shall be transferred to and shall
be deemed to be the employees of the Successor Bank:
Provided that the staff so transferred shall continue to be
governed by the respective service regulations applicable to them
immediately before such transfer until new service regulations are
framed by the Successor Bank with the approval of the Commissioner
of Co-operation and Registrar of Co-operative Societies:
       Provided further that the service rendered by the staff so
transferred in the said Bank upto its abolition shall be deemed to be
the service under the Successor Bank and they shall be entitled to
count that service for all purpose including increments, leave,
provident fund and gratuity:
        Provided also that their existing terms and conditions of service
shall not be varied to their disadvantage.
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(3) The integration of the services of the employees of the said Bank with
the employees of the Successor Bank shall be effected in accordance with such
principles as may be prescribed by rules framed in this behalf by the
Government subject to the provisions of Clause (f) of sub-section (2).
(4) The Registrar shall cause all consequential amendments to the Bye-
laws and regulations of the Successor Bank to be made to carry out the
purpose of this section.
3. Amendment of Act 7 of 1964 - (1) Throughout the Andhra Pradesh Co-
operative Societies Act, 1964 (hereinafter referred to as the principal Act), for
the words "Central Agricultural Development Bank" wherever they occur, the
words "The Andhra Pradesh State Co-operative Bank Limited" shall be
substituted.
(2) In Section 84 of the Principal Act, Clause (b) shall be omitted.
4. Act to override other laws- The provisions of this Act shall have effect
notwithstanding anything contained in the Andhra Pradesh Co-operative
Societies Act, 1964 (Act 7 of 1964) or in any other law for the time being in
force.

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