1956-HKRS30-8-46_Part06 — Page 15

સલમા

CO-OPERATIVE SOCIETIES ORDINANCE. (Chapter 33).

Co-Operative Söcieties (Amendment) RULES, 1956.

In exercise of the powers conferred by section st of the Co- operative Societies Ordinance, the Governor in Council has made the following rules→

1. These rules may be cited as the Co-operative Societies Citation. (Amendment) Rules, 1956.

2. Rule 20 of the Co-operative Societies Rules is amended-

(a) in paragraph (1), by the deletion of the word "liability"

and the substitution therefor of the following-

"total amount of debts'';

(b) in paragraph (2), by the deletion of the words "its

liability" and the substitution therefor of the following-

"the total amount of its debts";

(c) in the marginal note, by the deletion of the word **liability** and the substitution therefor of the following-

"total amount of debts".

MILIGE

Clerk of Councils.

Amendment. of rule 20.

(Vol. VIII, p. 180).

Council ChaMBER,

30th October, 1956.

Explanatory Note.

(This Note is not part of the rules, but is intended to indicate their general purport).

The use of the expression "maximum lability" in paragraph (1) of rule 20 has led to confusion in that, in accordance with the proviaïona of section 4 of the Co-operative Societies Ordinance, Chapter 33, many societies are of unlimited liability. It is, therefore, considered advisable to remove the existing confusion by the use of phraseology which will clarify the meaning of the rule. Rule 2 makes the necessary substitution.

(Secretariat 6/1899/4511)