The Government of Goa, on July 6, 2026, promulgated the Goa Co-operative Societies (Amendment) Ordinance, 2026 to amend the Goa Co-operative Societies Act, 2001. The Ordinance introduces significant changes relating to the formation and governance of cooperative societies, housing societies, board eligibility, virtual meetings, and director accountability, and came into force with immediate effect.
The Ordinance expands the definition of "housing society" to include multipurpose societies and other societies notified by the Government. It also enables owners of buildings constructed prior to the Real Estate (Regulation and Development) Act, 2016, having three or more dwelling units, to form housing societies by appointing a Chief Promoter and submitting prescribed documents. Additionally, it recognises virtual meetings as valid for cooperative societies, while mandating that board elections shall continue to be conducted only through physical voting.
Further, the Ordinance strengthens governance by requiring Board members to file self-declarations and annual asset disclosures, introducing mandatory cooperative management training for directors, prescribing eligibility criteria for directors of Apex and Federal societies, recognising RBI norms for shareholding in cooperative banks, and empowering the Registrar to disqualify directors or entire Boards for specified governance failures, including failure to hold annual general meetings within the prescribed timeline.
[Notification No. 8/6/2026-LA/159]
