Co-operative Societies.
[CAP. 33
CHAPTER 33.
THE CO-OPERATIVE SOCIETIES.
To provide for the formation and to regulate the operation of co-operative societies.
[15th February, 1951.]
PART I.
PRELIMINARY.
1. This Ordinance may be cited as the Co-operative Societies Ordinance.
2. In this Ordinance-
"bonus" means a share of the profits of a registered society divided among its members in proportion to the volume of business done with the society by them from which the profits of the society were derived;
"by-laws" means the registered by-laws made by a society in the exercise of any power conferred by this Ordinance, and includes a registered amendment of the by-laws;
"committee" means the governing body of a registered society to whom the management of its affairs is entrusted;
"dividend" means a share of the profits of a registered society divided among its members in proportion to the share capital held by them;
"member" includes a person or registered society joining in the application for the registration of a society, and a person or registered society admitted to membership after registration in accordance with the by-laws;
"officer" includes a chairman, secretary, treasurer, member of committee, or other person empowered under the rules or by-laws to give directions in regard to the business of a registered society;
"registered society" means a co-operative society registered under this Ordinance;
"Registrar" means the Registrar of Co-operative Societies appointed under section 3 and includes any person when exercising such powers of the Registrar as may have been conferred upon him under that section;
"rules" means rules made under this Ordinance.
255
Co-operative Societies.
[CAP. 33
CHAPTER 33.
THE CO-OPERATIVE SOCIETIES.
To provide for the formation and to regulate the operation 43 of 1947.
of co-operative societies.
[15th February, 1951.]
PART I.
PRELIMINARY.
1. This Ordinance may be cited as the Co-operative Short title. Societies Ordinance.
2. In this Ordinance-
"bonus" means a share of the profits of a registered society divided among its members in proportion to the volume of business done with the society by them from which the profits of the society were derived;
"by-laws" means the registered by-laws made by a society in the exercise of any power conferred by this Ordinance, and includes a registered amendment of the by-laws; "committee" means the governing body of a registered
society to whom the management of its affairs is entrusted;
"dividend" means a share of the profits of a registered society divided among its members in proportion to the share capital held by them;
"member" includes a person or registered society joining in the application for the registration of a society, and a person or registered society admitted to membership after registration in accordance with the by-laws; "officer" includes a chairman, secretary, treasurer, member of committee, or other person empowered under the rules or by-laws to give directions in regard to the business of a registered society;
"registered society" means a co-operative society registered
under this Ordinance;
"Registrar" means the Registrar of Co-operative Societies appointed under section 3 and includes any person when exercising such powers of the Registrar as may have been conferred upon him under that section; "rules" means rules made under this Ordinance.
Interpretation.
255
No comments yet.
Private notes are available after approval.