Explanation:

The item “Cooperative Societies” is a State Subject in the 7th Schedule (entry 32) of the State List in the Constitution of India.

• There are many Cooperative Societies such as those for sugar and milk, banks, milk unions etc whose members and areas of operation are spread across more than one state.
• The Multi-State Cooperative Societies (MSCS) Act, 2002 governs such cooperatives.
• According to MSCS Act, Administrative and financial control of these societies is with the central registrar, with the law making it clear that no state government official can wield any control on them. 

Hence both statements are correct.