Section 86 — AKTA KOPERASI 1993

(2)

In particular, without prejudice to the generality of the power conferred by subsection (1), such regulations may—

(a)

prescribe the forms to be used and the conditions to be complied with in applying for the registration of a society and the procedure in the matter for such application;

(b)

prescribe the conditions to be observed by a registered society applying for financial assistance from the Government;

(c)

prescribe the matters in respect of which a registered society may or shall make by-laws and for the procedure to be followed in making, amending and rescinding by-laws, and the conditions to be satisfied prior to such making, amendment or recission;

(d)

prescribe all matters relating to the appointments and terms of office of members of the Board of a registered society;

(e)

prescribe the manner in which a particular activity may be carried out by a registered society;

(f)

prescribe the purposes for which specific savings may be utilised;

(g)

prescribe all matters relating to the amalgamation and division of registered societies and the transfer of assets and liabilities of registered societies, including the vesting of assets and liabilities of—

(i)

amalgamating societies in the amalgamated society;

(ii)

a registered society in the new societies created pursuant to a division;

(iii)

a registered society in another society pursuant to a transfer, the registration of the amalgamated society, the new societies and the transfer, and the revocation of the registration of, in the case of an amalgamation, the amalgamating societies, in the case of a division, the existing society, and, in the case of a transfer, the transferor society;

(h)

prescribe the purposes for which the funds in the Reserve Account, other than those arising from capital gains, may be utilised;

(i)

prescribe the maximum rate of dividend on share capital or subscription capital which may be paid by registered societies;

(j)

prescribe the manner in which the Cooperative Central Fund and the Co-operative Societies Liquidation Account shall be held, administered and used;

(k)

subject to the express provisions of this Act, determine in what cases an appeal shall lie from the orders of the Registrar-General and prescribe the procedure to be followed in presenting and disposing of such appeals;

(1)

prescribe the mode of appointing an arbitrator or arbitrators and the procedure to be followed in proceedings before the Registrar-General or such arbitrator or arbitrators;

(m)

prescribe the procedure to be followed by the liquidator appointed under section 74 and the cases in which appeals shall lie from the orders of such liquidator;

(n)

prescribe the forms to be used, the fees to be paid, the procedure to be observed and all other matters connected with or incidental to the presentation, hearing and disposal of appeals under this Act or the regulations;

(0)

provide for the inspection of documents and registers at the Registrar-General's office and the fees to be paid therefor and for the issue of copies of such documents or registers;

(p)

provide for the establishment of a National Cooperative Consultative Council,

(9)

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(3)

Without prejudice to the provisions of subsections (1) and (2), the Minister, with the concurrence of the Minister of Finance, may make such regulations as may be necessary for the purpose of controlling or regulating the activities, and to provide for the better management, of registered societies carrying on the business of financing or the business of insurance.