Section 50
of Co-Operative Societies Act 1993
Section 50
The funds of a co-operative society may be raised by any or all of the following:
(a)
entrance fees, which shall not be refundable except in cases where an application for membership has been rejected;
(b)
shares subscribed and paid by members, of which a minimum number prescribed in the by-laws of such co-operative society shall not be withdrawable except after termination of membership, while shares subscribed in excess of this minimum contribution may be withdrawable or transferable or both, subject to the provisions of this Act and the regulations and to any limitations laid down in the by-laws of such co-operative society;
(c)
in the case of co-operative societies which have as their object the promoting of thrift among their members and the creating of a source of credit for their members, subscription;
(d)
specific savings of members, which shall be withdrawable subject to conditions laid down in the by-laws;
(e)
subject to subsection 52(1) or regulations, deposits or loans from members and with the approval from the
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Commission, from persons who are not members of the co-operative society;
(f)
surplus carried to the Reserve Account;
(g)
donations and grants made by third persons, except that no donations from any foreign source, whether offered directly or otherwise, shall be received by a co-operative society without the prior written approval of the Commission.