Section 52A
Restrictions on deposits from non-members
of Co-Operative Societies Act 1993
ActIn forceProvision 62 of 119
Section 52A
(1)
A co-operative society shall not accept deposits from persons who are not members of that co-operative society except as provided in the regulations.
(2)
Any co-operative society who contravenes subsection (1)
commits an offence and shall, on conviction, be liable to a fine not exceeding five hundred thousand ringgit.