Malaysia legislation
Section 28
Section 28
(2)
In the case of a society registered with unlimited liability, a member shall not transfer or charge any share held by him or his interest in the capital of the society or any part thereof, unless—
(a)
he has held such share or interest for not less than one year; and
(b)
the transfer or charge is made to the society, or to a member of the society, or to a person whose application for membership has been accepted by the Committee.