1964_CO-OPERATIVE_SOCIETIES_ORDINANCE — Page 19

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CAP. 33]

Co-operative Societies.

[1964 Ed.

(h) matters in respect of which a society may or shall make by-laws and the procedure to be followed in making, altering and rescinding by-laws, and the conditions to be satisfied prior to such making, alteration or rescission;

(i) the manner in which funds may be raised by means of shares or debentures or otherwise;

(j) conditions to be observed by a registered society applying for financial assistance from government;

(k) the payments to be made, the conditions to be complied with and the forms of the bonds, instruments or other documents to be executed by members applying for loans or cash credits, the period for which loans may be made or credits granted, and the maximum amount which may be lent and the maximum credit which may be allowed to individual members with or without the consent of the Registrar;

(l) the mode in which the value of a deceased member's interest shall be ascertained, and for the nomination of a person to whom such interest may be paid or transferred;

(m) the mode in which the value of the interest of a member who has become of unsound mind and incapable of managing himself or his affairs shall be ascertained and the nomination of any person to whom such interest may be paid or transferred;

(n) formation and maintenance of reserve funds, and the objects to which such funds may be applied, and investment of any funds under the control of any registered society;

(o) conditions under which profits may be distributed to the members of a society with unlimited liability and the maximum rate of dividend which may be paid by societies;

(p) accounts and books to be kept by a registered society, and for the periodical publication of a balance sheet showing the assets and liabilities of a registered society;

(q) audit of the accounts of registered societies and for the charges, if any, to be made for such audit and the levy of contributions from all or any registered societies to a fund to be used for the audit and supervision of existing societies and co-operative propaganda and the administration of such a fund;

(r) returns to be submitted by registered societies to the Registrar, and the persons by whom and the form in which the same are to be made;

(s) the persons by whom, and the form in which, copies of entries in books of registered societies may be certified;