Citation.
Register of ગામના કાર
Applications
1.
18
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 ancieties 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 shall be signed by him.
4. Every alteration, interlineation or erasure in the Register of Societies shall be initialled by the Registrar.
5. 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 him.
Lion of worteties.
Registration
Begister of
mera bers and booles
and Rccounts.
Membership.
(2) Three copies of the by-laws which the society proposes
to adopt shall be submitted together with the applicating.
7. Where the Registrar decides to register a proposed society the society and its by-laws shall be registered in the Register of Societies.
8. Upon the registration of a society the Registrar shall forward to the society, free of charge,
(a) a certificate of registration;
(5) n copy of the by-laws of the society as approved by hiru and certified under his hand aa having been approved by him;
(e) a copy of the Ordinance and of the rules in
English.
0.
When the Registrar refuses to register a society or its by-laws he shall record in writing his reasons for so doing,
10. Every registered society shall keep a register to be called "the Register of Members" wherein shall be entered-
(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 Was entered in the register;
member; and
(e) the date on which any member ceased to be a
(d) the nominee, if any, appointed under rule 18.
11. Every registered society shall keep such accounts and shall use such books as may from time to time he 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 on such 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 aball 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 acts in any way detrimental 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 upon 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 o repayment of any money paid by bim towards the purchase of shares.
17. No registered society shall fix any limit to the number of its members.
18 (1) Every appointment of a nominee by any member of Nominal, a registered society for the purposes of section 17 of the Ordinuuce 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 holds more than one share.
(3) In suy cose where more than one nominee is appointed by any member the number of shares to be transferred or the canct proportion of the amount available that is to be transferred to each of these nominees shall be specified at the time of the appoint- meat.
(4) Evary appointment of a nominee 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 society otherwise provide.
(6) Where any moony is paid to a nominee who is a minor, a receipt given either by the minor or by his guardian sball be sufficient discharge to the registered analety.
19. (1) Unless otherwise authorised by the Governor ander Division of the proving to section 34(1) of the Ordinance no dividend or prote payment on account of profity 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 loous granted by it to its members exceeds ten per centum per annum.
(9) No registered society aball pay a dividend ou 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 on patronage calculated in proportion to the amount of the business done by each member with the registered society may be distributed periodically to the members from surplug funds after the deduction of all expenditure and after making provision for bad and doubtful debts and making allocation to the reserve fund.
20. (1) Every registered society shall, from time to time, fix Maximum at a general meeting the maximum liability it may incur in loans Hability. or deposita whether from members or non-members.