BUSINESS REGISTRATIONCOOPERATIVE SOCIETIES

CHAPTER 47:02
BUSINESS REGISTRATIONCOOPERATIVE SOCIETIES

ARRANGEMENT OF SECTIONS

    SECTION

PART I
PRELIMINARY

    1.    Short title

    2.    Interpretation

PART II
REGISTRATION

    3.    Registrar and assistant registrars

    4.    Societies which may be registered

    5.    Conditions of registration

    6.    Application for registration

    7.    Registration of society

    8.    Indication of registration

    9.    Cancellation of registration

    10.    Amendment of by-laws of a registered society

    11.    Appeal to the Minister

    12.    Name of society to be different from others

    13.    Evidence of registration

PART III
RIGHTS AND LIABILITIES OF MEMBERS

    14.    Qualification for membership

    15.    Restriction on shareholding

    16.    Restriction on membership

    17.    Member not to exercise rights until due payment made

    18.    Restriction of membership in more than one society

    19.    Votes of members

    20.    Restriction on transfer of shares or interest

PART IV
DUTIES OF REGISTERED SOCIETIES

    21.    Address of society

    22.    Copy of the Act, regulations, by-laws, etc., to be open for inspection

    23.    Audit and annual returns and accounts

    24.    Qualifications of auditors

    25.    Estimates and expenditure

    26.    Voluntary amalgamation of societies

    27.    Transfer of assets and liabilities to another society

    28.    Voluntary division of a society

PART V
DUTIES AND PRIVILEGES OF SOCIETIES

    29.    Societies to be bodies corporate

    30.    By-laws to bind members

    31.    Contract with members

    32.    Imposition of fines upon members

    33.    Charge on produce and certain other materials and articles

    34.    Charge and set-off in respect of shares or interest of members

    35.    Share or interest not liable to attachment

    36.    Liability of past member

    37.    Liability of estate of deceased member

    38.    Transfer of interest or death of member

    39.    Registers and books of societies and copies thereof shall be received in evidence in certain circumstances

    40.    Restriction on the production of societies books

    41.    Power to remit or refund revenue

PART VI
PROPERTY AND FUNDS OF REGISTERED SOCIETIES

    42.    Restrictions on loan

    43.    Restrictions on borrowing

    44.    Restrictions on other transactions with non-members

    45.    Investments of funds

    46.    Dividend or bonus

    47.    Reserve and provident fund

    48.    Distribution of net balance

PART VII
NATIONAL COOPERATIVE EDUCATION FUND

    49.    Establishment of the Fund

    50.    Fund Committee

    51.    Account and Audit

    52.    Financial Year

    53.    Disbursement from the Fund

    54.    Holdings of the Fund

PART VIII
CHARGES BY SOCIETIES

    55.    Power to charge property

    56.    Registration of charges

    57.    Duty of society to register charges created by society

    58.    Duty of society to register charges existing on property acquired

    59.    Register of charges

    60.    Endorsement of certificate of registration on debentures

    61.    Entry of satisfaction

    62.    Rectification of register of charges

    63.    Registration of appointment of receiver

    64.    Copy of instrument creating charge to be kept by society

    65.    Society’s register of charges

    66.    Right to inspect copies of instruments creating charges and society’s register of charges

PART IX
SUPERVISION AND INSPECTION OF AFFAIRS

    67.    Production of cash and books of society

    68.    Ad hoc committee of inquiry

    69.    Inspection of books of indebted society

    70.    Cost of inquiry

    71.    Recovery of an award under section 70

PART X
DISSOLUTION OF A REGISTERED SOCIETY

    72.    Cancellation of registration after inquiry or inspection

    73.    Cancellation for other reasons

    74.    Winding-up

    75.    Application of certain provisions of Companies Act

    76.    Effect of cancellation

    77.    Copy of order to be filed by Registrar

    78.    Appointment of liquidator

    79.    Powers of liquidator

    80.    Powers of Registrar in liquidation

    81.    Appeal against an order of a liquidator or the Registrar

    82.    Closure of liquidation

    83.    Commission of offence

    84.    Convicted officers not to be officers of a society

    85.    Offences

PART XI
SURCHARGE AND ATTACHMENT

    86.    Powers of Registrar to surcharge officers, etc.

    87.    Appeal to Minister

    88.    Attachment of property

PART XII
SETTLEMENT OF DISPUTES

    89.    Settlement of dispute

    90.    Protection of arbitrator

    91.    Appeal to court from decision of the Minister

PART XIII
REGULATIONS

    92.    Regulations

PART XIV
MISCELLANEOUS PROVISIONS

    93.    Remuneration of officers

    94.    Prohibition of the use of the word “Cooperative”

    95.    Offences and penalties

    96.    Penalty for soliciting violation of contracts

    97.    Application of other laws

    98.    Certain laws not to apply

    99.    Repeal and savings

36 of 1998
G.N. 10/2000

    An Act to consolidate the law relating to the constitution and regulation of cooperative societies and…