Question

The Co-operative auditor should ensure that the loan provided to a non-member is with the permission of

• A. General body
• B. Registrar
• C. Government
• D. Secretary of that society

Answer 1

Answer:

B. Registrar

A co-operative auditor should ensure that a loan provided to a non-member is with the permission of the Registrar of Co-operative Societies. 

A co-operative society can only provide loans to non-members with the prior permission of the Registrar. The Registrar may grant permission for loans to non-members under general or special sanction. 

Co-operative societies can also make loans to other co-operative societies, or to depositors on the security of their deposit.