Section 21
Restrictions on registration of mutual benefit societies
of Societies Act 1966 (Revised - 2021)
A mutual benefit society shall not be entitled to registration under section 7 if the rules of such mutual benefit society provide for—
(a)
a benefit exceeding two thousand ringgit in any one case;
(b)
admission of a member or subscriber who is above the age of sixty years, unless that member is insuring another person who is not above the age of sixty years; or
(c)
admission of a member or subscriber not resident within the limits of a town in Malaysia in which such society proposes to carry on its business:
Provided that where a mutual benefit society is established in a particular place of work for the benefit of its members or subscribers, the society shall be entitled to registration notwithstanding that the rules of the society provide for the admission of members or subscribers resident outside the limits of the town in which the society proposes to carry on its business;
or unless the tables of contributions to be paid by the members of such mutual benefit society and its rules governing benefits payable to the members, custody, investment and periodical valuation of its goods, assets and liabilities certified by an actuary approved by the Minister are sent to the Registrar with the application for registration.
(2)
For the purpose of this section, “town” includes any village, mukim, municipality or city.