Citation.
Register of aucieties.
Applications
1.
18
J
SCHEDULE.
CO-OPERATIVE SOCIETIES ORDINANCE, 1947. (Ordinance No. 43 of 1947),
RULES.
(Section 51).
These rules may be cited as the Co-operative Societies Rules, 1947.
2. The Registrar shall keep or cause to be kept at his office, a register to be called "the Register of Societies wherein shall be entered particulars relating to the registration of societies and their by-laws.
3 All original entries in the Register of Societies shall be made by, or under the direction of, the Registrar and aball be signed by him.
4.
Every alteration, interlineation or erasure in the Register of Societies shall be initialled by the Registrar.
The Register of Societies shall be open to inspection by
the public at all reasonable times and free of charge.
0.
(1) Every application for the registration of a society for registra shall be submitted to the Registrar in the form prescribed by himi. tion of acieties.
(2) Three copies of the by-laws which the society proposen to adopt shall be submitted together with the application. Registration. 7. Where the Registrar decides to register a proposed society the society and its by-laws shall be registered in the Register of Societies.
Upon the registration of a society the Registrar shall forward to the society, free of charge,
(a) a certificate of registration;
(8) a copy of the by-laws of the society as approved by him and certified under his hand as having been approved by him;
English.
(e) a copy of the Ordinance and of the rules in
3. When the Registrar refuses to register a society or ite by-laws he shall record in writing his reasons for so doing.
Eegister of 10. Every registered society shall keep a register to be called members "the Register of Members" wherein shall be entered-
wud books. and accounts.
Membership.
(a) the name, address and occupation of each member and a statement of the shares, if any, held by him;
(b) the date on which each member's name entered in the register;
member; and
(e) the date on which any member ceased to be a
(4) the nominee, if any, appointed under rule 18.
11. Every registered society shall keep such accounts and shall use such books as way from time to time be prescribed by the Registrar.
12. The election and admission of members to a registered society, other than original members, shall be in such manner and un auch conditions as the by-laws shall prescribe.
13. A member may withdraw from a registered society by giving written notice to the secretary, but such withdrawal ahall be without prejudice to section 29(1) of the Ordinance.
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14. If a member acts in contravention of the rules or by-laws or acta in any way detrimentul to the interests of the registered society such member may be expelled by a vote of two-thirds of the members present at a general meeting upup a charge com- municated to him in writing by the committee not less than one week before the meeting. Such expulsion shall, however, be without prejudice to section 29(1) of the Ordinance.
16. Any member who loses any of the qualifications for membership prescribed by the Ordinance or the rules or the by-laws shall cease to be a member of the registered society and the committee shall cause his name to be struck of the Register of Members without prejudice to any liabilities of such person under section 29(1) of the Ordinance.
16. In the case of any registered society of limited liability holding deposits or loans from non-members, no member with- drawing, removed or expelled therefrom shall be entitled to a repayment of any money paid by him towards the purchase of sharee.
17. No registered society shall fix any limit to the number of its members.
18 (1) Every appointment of a nomines by any member of Nominaas, a registered society for the purposes of section 17 of the Ordinance shall be made in writing signed by the member in the presence of two attesting witnesses.
(2) No member of a registered society with share capital shall be entitled to appoint more than one nominee unless that member holda more than one share.
(3) In any case where more than one nominee ia appointed by any member the number of shares to be transferred or the exact proportion of the amount available that is to be transferred to each of these nominees shall be specified at the time of the appoint- met.
(4) Every appointment of a usminee shall be recorded in the Register of Members.
(6) For the purpose of a transfer to a nomines, the value of any share or interest shall be represented by the sum actually paid for that share or interest by the member holding it unless the by-laws of the registered nociety otherwise provide.
(0) Where any money is paid to a nomines who is o minor, a receipt given either by the minor or by his guardian aboll be sufficient discharge to the registered anniety.
19. (1) Unless otherwise authorised by the Governor under Division of the proviso to section 34(1) of the Ordinance no dividend or prošla. paytaent un account of profits shall be made by a society registered with unlimited liability until the reserve fund has reached a pro- portion of not less than one tenth of the society's total liabilities.
(2) No registered society shall pay a dividend if the rate of interest on loans granted by it to its members exceeds ten per centum per annum,
(0) No registered society shall pay a dividend on share capital exceeding five per centum per annum of the capital actually paid up.
(4) A bonus based on wages or on the value of the pro- ducts of à member, or a bonus or rebate ou patronage calculated in proportion to the amount of the business doue by each member with the registered society may be distributed periodically to the members from surplus funds after the deduction of all expenditure and after making provision for bud and doubtful debts and making allocation to the reserve fund.
20. (1) Every registered society shall, from time to time, fix Marmo at a general meeting the maximum liability it may incur in loans Ulebility. or deposits whether from members or non-members.