33. Restriction on shareholding

Terms defined in s 2

• co-operative society

  co-operative society

  Defined · s 2

  “co-operative society” means an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically controlled enterprise which is registered under this Act;

  Open s 2
• member

  member

  Defined · s 2

  “member” includes a person or a co-operative society joining in the application for the registration of a co-operative society and who has signed the minutes of the inaugural general meeting of the co-operative society and a person or co-operative society admitted to membership of the co-operative society in accordance with the regulations and its by-laws after registration;

  Open s 2
• share

  share

  Defined · s 2

  “share” means a share in the share capital of a co-operative society contributed by a member in respect of his membership in that co-operative society;

  Open s 2