1964_CO-OPERATIVE_SOCIETIES_ORDINANCE — Page 4

1964 Ed.]

Co-operative Societies.

[CAP. 33

3

CHAPTER 33.

CO-OPERATIVE SOCIETIES.

To provide for the formation and to regulate the operation of

co-operative societies.

[15th February, 1951.]

Originally

43 of 1947. (Cap. 33, 1950.)

53 of 1956. G.N.A. 31/51.

PART I.

PRELIMINARY.

1. This Ordinance may be cited as the Co-operative Societies Ordinance.

2. In this Ordinance, unless the context otherwise requires-

"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 in- cludes 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 com- mittee, 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.

Short title.

Interpretation.

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