CAP. 33]
[r. 69 cont.]
Amendment of by-laws.
Copies of entries.
Co-operative Societies.
(e) the qualifications for membership, the terms of admission of members, and the mode of election; the nature and extent of the liability of members; and
(g) the manner of raising funds, including the maximum rate of interest on deposits.
(2) If the objects of the proposed society include the creation of funds to be lent to the members, the proposed by-laws shall, in addition, contain provision in respect of the following matters—
(a) the occupation and residence of the members;
(b) the conditions on which loans may be made to members, including—
(i) the rate of interest, and
(ii) the maximum amount which may be lent to a member; and
(c) the consequences, if any, of default in the payment of any sum due on account of shares.
70. (1) Where in pursuance of the provisions of sub-section (1) of section 10 of the Ordinance a registered society amends its by-laws, such amendment shall be made by a resolution of the members of the registered society at a general meeting.
(2) Every resolution under paragraph (1) of this rule shall not be valid and effective unless it was taken by a majority of not less than three-fourths of the members present at the general meeting at which the resolution was proposed.
(3) A copy of a resolution under paragraph (1) of this rule shall be forwarded to the Registrar together with three copies of the amendment.
71. For the purposes of section 20 of the Ordinance a copy of an entry in the book of a registered society may be certified by a certificate written at the foot of such copy, declaring that it is a true copy of such entry and that the book containing the entry is still in the custody of the society; such certificate being dated and signed by the secretary and one member of the committee.
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